<SEC-DOCUMENT>0001157523-17-001055.txt : 20170418
<SEC-HEADER>0001157523-17-001055.hdr.sgml : 20170418
<ACCEPTANCE-DATETIME>20170418160140
ACCESSION NUMBER:		0001157523-17-001055
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170418
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170418
DATE AS OF CHANGE:		20170418

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMCON DISTRIBUTING CO
		CENTRAL INDEX KEY:			0000928465
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & GENERAL LINE [5141]
		IRS NUMBER:				470702918
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15589
		FILM NUMBER:		17767039

	BUSINESS ADDRESS:	
		STREET 1:		7405 IRVINGTON ROAD
		STREET 2:		POST OFFICE BOX 641940 (68164-7940)
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68122
		BUSINESS PHONE:		4023313727

	MAIL ADDRESS:	
		STREET 1:		7405 IRVINGTON ROAD
		STREET 2:		POST OFFICE BOX 641940 (68164-7940)
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68122
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51542337.htm
<DESCRIPTION>AMCON DISTRIBUTING COMPANY 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-size: 11pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>WASHINGTON,
      D.C. 20549</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>SECURITIES
      ACT OF 1934</b></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-size: 11pt; font-family: Times New Roman"></font>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><font style="font-size: 11pt; font-family: Times New Roman"><b>Date
            of Report (Date of earliest event reported) April 18, 2017</b></font></u>
          </p>
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    <p style="text-align: center">
      <font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt">
      </font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt">
      </font><u><font style="font-size: 11pt; font-family: Times New Roman"><b>AMCON
      DISTRIBUTING COMPANY</b></font></u><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt"></font><font style="font-size: 11pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><font style="font-size: 11pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 11pt"></font><br><br>
    </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 1%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; width: 32%; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-15589</b>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 1%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; width: 33%; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>47-0702918</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of incorporation)
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 32%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission<br>File Number)
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
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    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-left:auto;margin-right:auto; margin-bottom: 10.0px" cellspacing="0">
      <tr>
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          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; width: 40%; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>7405 Irvington Road, Omaha NE 68122</b>
          </p>
        </td>
        <td style="width: 30%">

        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of principal executive offices) (Zip Code)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 30%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 30%">
          &#160;
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        <td style="width: 30%">

        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; width: 40%; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center; border-bottom-color: black" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>402-331-3727</b>
          </p>
        </td>
        <td style="width: 30%">

        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Registrant&#8217;s telephone number, including area code)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 30%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 30%">
          &#160;
        </td>
      </tr>
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        <td style="width: 30%">

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        <td style="border-bottom-width: 1.0pt; width: 40%; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Not Applicable</b>
          </p>
        </td>
        <td style="width: 30%">

        </td>
      </tr>
      <tr>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Former name or former address, if changed since last report)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
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        <div style="text-align: left">

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          1
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          <hr style="color: black; height: 1.5pt">

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      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap; text-align: justify">
      <b>ITEM 2.02 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;RESULTS OF OPERATIONS AND FINANCIAL CONDITION. </b>
    </p>
    <p style="text-align: justify">
      On April 18, 2017, the Company issued a press release announcing
      financial results for its fiscal quarter ended March 31, 2017.&#160;&#160;A copy
      of the press release is attached to this report as an exhibit.
    </p>
    <p style="text-align: justify">
      The information in this report (including the exhibit) shall not be
      deemed to be &quot;filed&quot; for the purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended, or otherwise subject to the
      liabilities of that Section.&#160;&#160;The information set forth in this report
      (including the exhibit) shall not be incorporated by reference into any
      registration statement or other document pursuant to the Securities Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such filing.
    </p>
    <p>

    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>ITEM 9.01&#160;&#160;&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS&#160;&#160;</b>
    </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>EXHIBIT NO.</b></u>
          </p>
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>DESCRIPTION</b></u>
          </p>
        </td>
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press release, dated April 18, 2017, issued by AMCON Distributing
            Company announcing financial results for its fiscal quarter ended
            March 31, 2017.
          </p>
        </td>
      </tr>
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        <td style="width: 15%; padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
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        <div style="text-align: left">

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          2
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        </div>
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    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">SIGNATURE</font><br><br>
    </p>
    <p style="text-align: left">
      Pursuant to the requirements of the Securities and Exchange Act of 1934,
      the registrant has duly caused this report to be signed on its behalf by
      the undersigned hereunto duly authorized.
    </p>
    <p style="text-align: left">

    </p>
    <div style="text-align:center">
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        </td>
        <td style="width: 45%">

        </td>
        <td style="border-bottom-width: 1.0pt; width: 34%; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            AMCON DISTRIBUTING COMPANY
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            (Registrant)
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 10%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; width: 5%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 45%; padding-left: 0.0px; text-align: left" valign="top">
          April 18, 2017
        </td>
        <td style="border-bottom-width: 1.0pt; width: 34%; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Andrew C. Plummer
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name: Andrew C. Plummer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title: Vice President &amp; Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      3
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51542337ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>AMCON
      Distributing Company Reports Fully Diluted Earnings Per Share of $0.71
      for the Quarter Ended March 31, 2017</b></font>
    </p>
    <p>
      OMAHA, Neb.--(BUSINESS WIRE)--April 18, 2017--AMCON Distributing Company
      (&#8220;AMCON&#8221;) (NYSE MKT:DIT), an Omaha, Nebraska based consumer products
      company is pleased to announce fully diluted earnings per share of $0.71
      on net income available to common shareholders of $0.5 million for our
      second fiscal quarter ended March 31, 2017.
    </p>
    <p>
      &#8220;We continue to invest in our wholesale business to enhance our
      leadership position in the convenience distribution industry. We are
      expanding our foodservice and technology capabilities as the needs of
      our customers grow in complexity. This approach has served to
      differentiate us from our competition,&#8221; said Christopher H. Atayan,
      AMCON&#8217;s Chairman and Chief Executive Officer. He further noted, &#8220;We are
      actively seeking acquisitions that can benefit from our extensive
      platform of customer service and are evaluating several geographic
      growth opportunities as our customer base expands.&#8221;
    </p>
    <p>
      For the second fiscal quarter of 2017, our Wholesale Distribution
      Segment reported revenues of $287.3 million and operating income of $2.7
      million. Our Retail Health Food Segment reported revenues of $6.7
      million and an operating loss of $0.2 million for the same period.
    </p>
    <p>
      &#8220;Our annual spring trade show in Kansas City was well received by our
      customers and vendors. This annual event provides momentum as we enter
      our customers&#8217; peak selling season,&#8221; said Kathleen M. Evans, President
      of AMCON&#8217;s Wholesale Distribution Segment. She further noted, &#8220;As we
      expand into new territories we are implementing the logistics
      investments and technology necessary to support our customers&#8217;
      geographic growth.&#8221;
    </p>
    <p>
      &#8220;We are pleased with the progress of our new store in Orlando. Our
      management team is developing market driven enhancements to our core
      business model in order to compete in this highly challenging retail
      environment,&#8221; said Clifford Ginn, President of AMCON&#8217;s Retail Health
      Food Segment.
    </p>
    <p>
      &#8220;We actively manage our working capital and liquidity which provides an
      ability to respond quickly to the dynamic environments in which both of
      our business segments operate. This conservative approach provides us
      significant flexibility to act in the long term best interest of the
      many constituencies we serve. Both of our business segments are
      utilizing financial resources in the course of making the investments
      necessary for long term competitive success,&#8221; said Andrew C. Plummer,
      AMCON&#8217;s Chief Financial Officer. &#8220;We were pleased to close the March 31,
      2017 quarter with shareholders&#8217; equity of $67.1 million and consolidated
      debt of $8.3 million.&#8221;
    </p>
    <div style="width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
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        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      AMCON is a leading wholesale distributor of consumer products, including
      beverages, candy, tobacco, groceries, foodservice, frozen and chilled
      foods, and health and beauty care products with locations in Illinois,
      Missouri, Nebraska, North Dakota, South Dakota and Tennessee. AMCON also
      operates sixteen (16) health and natural product retail stores in the
      Midwest and Florida. The retail stores operate under the names
      Chamberlin's Market &amp; Cafe <u>www.chamberlins.com</u> and Akin&#8217;s
      Natural Foods Market <u>www.akins.com</u>.
    </p>
    <p>
      <i>This news release contains forward-looking statements that are
      subject to risks and uncertainties and which reflect management's
      current beliefs and estimates of future economic circumstances, industry
      conditions, Company performance and financial results. A number of
      factors could affect the future results of the Company and could cause
      those results to differ materially from those expressed in the Company's
      forward-looking statements including, without limitation, availability
      of sufficient cash resources to conduct its business and meet its
      capital expenditures needs and the other factors described under Item
      1.A. of the Company&#8217;s Annual Report on Form 10-K. Moreover, past
      financial performance should not be considered a reliable indicator of
      future performance. Accordingly, the Company claims the protection of
      the safe harbor for forward-looking statements contained in the Private
      Securities Litigation Reform Act of 1995 with respect to all such
      forward-looking statements.</i>
    </p>
    <p style="text-align: center">
      <b>Visit AMCON Distributing Company's web site at: <u>www.amcon.com</u></b>
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Condensed Consolidated Balance Sheets</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>March 31, 2017 and September&#160;30, 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>March</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>September</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2017</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>(Unaudited)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>ASSETS</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Current assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Cash
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          248,760
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          605,380
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Accounts receivable, less allowance for doubtful accounts of $0.7
            million at March 2017 and $0.7 million at September 2016
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          27,737,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,033,104
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Inventories, net
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          45,707,269
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          48,404,882
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,182,299
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,441,919
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Income taxes receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          282,435
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          164,959
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Prepaid and other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          7,829,685
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          8,608,049
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Total current assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          82,988,311
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          89,258,293
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12,373,290
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          12,607,877
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Goodwill
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,349,827
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,349,827
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Other intangible assets, net
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,626,812
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,759,311
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          340,936
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          288,082
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          105,679,176
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          112,263,390
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Current liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17,255,595
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          18,164,983
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Accrued expenses
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,299,199
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          6,792,884
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Accrued wages, salaries and bonuses
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,653,577
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,580,996
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Current maturities of long-term debt
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          367,982
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          362,495
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          26,576,353
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          28,901,358
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Credit facility
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          5,102,578
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          10,537,226
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,080,631
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,021,569
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Long-term debt, less current maturities
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,836,070
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3,021,824
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          32,123
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,815
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Shareholders&#8217; equity:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Preferred stock, $.01 par value, 1,000,000 shares authorized
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Common stock, $.01 par value, 3,000,000 shares authorized, 678,938
            shares outstanding and issued at March 2017 and 677,057 shares
            outstanding and issued at September 2016
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8,314
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          8,184
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          20,782,045
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          19,525,554
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          59,775,503
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          58,693,241
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Treasury stock at cost
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (13,514,441
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (12,476,381
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total shareholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          67,051,421
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          65,750,598
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          <b>Total liabilities and shareholders' equity</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          105,679,176
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          112,263,390
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Condensed Consolidated Unaudited Statements of Operations</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>&#160;for the three and six months ended March 31, 2017 and 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center; border-bottom-color: black" valign="bottom">
          <b>For the three months ended March</b>
        </td>
        <td>

        </td>
        <td colspan="7" style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: center; border-bottom-color: black" valign="bottom">
          <b>For the six months ended March</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2017</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2016</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2017</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Sales (including excise taxes of $85.7 million and $88.7 million,
          and $176.7 million and $186.0 million, respectively)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          294,047,870
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          296,449,126
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          604,152,099
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          618,457,375
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Cost of sales
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          276,573,968
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          278,908,888
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          568,362,211
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          581,955,233
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Gross profit
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          17,473,902
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          17,540,238
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          35,789,888
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          36,502,142
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          15,820,504
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          14,770,358
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          31,518,823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          30,615,492
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          529,969
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          575,681
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,056,402
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,142,630
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          16,350,473
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          15,346,039
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          32,575,225
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          31,758,122
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Operating income
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,123,429
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          2,194,199
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          3,214,663
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          4,744,020
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Other expense (income):
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Interest expense
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          147,910
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          161,402
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          365,453
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          373,856
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Other (income), net
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (14,964
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (35,827
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (20,737
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (63,082
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          132,946
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          125,575
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          344,716
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          310,774
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Income from operations before income tax expense
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          990,483
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,068,624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,869,947
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,433,246
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          502,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          922,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,335,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,931,000
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          488,483
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,146,624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,534,947
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,502,246
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Preferred stock dividend requirements
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (48,643
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (97,820
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Net income available to common shareholders
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          488,483
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,097,981
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          1,534,947
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          2,404,426
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Basic earnings per share available to common shareholders
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.72
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.81
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.90
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Diluted earnings per share available to common shareholders
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.71
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1.61
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2.22
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          3.46
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Basic weighted average shares outstanding
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          678,938
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          606,080
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          680,318
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          615,768
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Diluted weighted average shares outstanding
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          688,016
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          712,547
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          690,190
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          723,317
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Dividends declared and paid per common share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.46
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.46
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.64
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          0.64
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 8pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>AMCON Distributing Company and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Condensed Consolidated Unaudited Statements of Cash Flows</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>for the six months ended March 31, 2017 and 2016</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>March</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>March</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2017</b>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="bottom">

        </td>
        <td colspan="3" style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: center; border-bottom-color: black" valign="bottom">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          CASH FLOWS FROM OPERATING ACTIVITIES:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,534,947
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,502,246
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Adjustments to reconcile net income from operations to net cash
          flows from operating activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Depreciation
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          923,903
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          960,130
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Amortization
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          132,499
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          182,500
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Gain on sale of property and equipment
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (21,624
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (34,482
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Equity-based compensation
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          765,554
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          660,203
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          318,682
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          352,242
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Provision (recovery) for losses on doubtful accounts
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (67,000
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Provision for losses on inventory obsolescence
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          72,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          70,818
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Other
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,308
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (4,022
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Changes in assets and liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Accounts receivable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,266,241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,677,840
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Inventories
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          2,625,416
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          4,128,553
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Prepaid and other current assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          778,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,954,372
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Other assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (52,854
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          20,467
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (771,163
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,005,681
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Accrued expenses and accrued wages, salaries and bonuses
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (822,955
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,479,465
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Income taxes receivable
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (117,476
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          343,304
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Net cash flows from operating activities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          7,662,039
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          7,353,281
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          CASH FLOWS FROM INVESTING ACTIVITIES:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Purchase of property and equipment
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (837,895
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (692,402
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Proceeds from sales of property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          31,978
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          48,164
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Net cash flows from investing activities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (805,917
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (644,238
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          CASH FLOWS FROM FINANCING ACTIVITIES:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Net payments on bank credit agreements
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (5,434,648
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (3,292,820
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Principal payments on long-term debt
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (180,267
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (174,650
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Repurchase of common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (1,038,060
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (2,547,683
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Dividends paid on convertible preferred stock
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          &#8212;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (97,820
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Dividends on common stock
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (452,685
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (412,210
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="bottom">
          Withholdings on the exercise of equity-based awards
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (107,082
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (81,406
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Net cash flows from financing activities
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (7,212,742
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          (6,606,589
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: left; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net change in cash
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          (356,620
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          102,454
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Cash, beginning of period
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          605,380
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-style: solid; text-align: left; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: solid; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          219,536
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Cash, end of period
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          248,760
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="border-bottom-width: 2.25pt; padding-right: 0.0px; padding-left: 0.0px; border-bottom-style: double; white-space: nowrap; text-align: right; border-bottom-color: black" valign="bottom">
          321,990
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Supplemental disclosure of cash flow information:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Cash paid during the period for interest
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          365,620
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          391,130
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Cash paid during the period for income taxes
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,133,794
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,235,454
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Supplemental disclosure of non-cash information:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Equipment acquisitions classified as accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          29,219
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          17,500
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          Issuance of common stock in connection with the vesting and exercise
          of equity-based awards
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,262,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap; text-align: right" valign="bottom">
          1,174,981
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>AMCON Distributing Company<br>Christopher H. Atayan,
      402-331-3727
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
