XML 19 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Consolidated net income/(loss) $ (4,516,322) $ 1,155,462
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation and amortization 2,634,904 1,721,830
Deferred revenue (287,021) 780,455
Change in allowance for inventory obsolescence (38,276) 650,446
Share-based compensation 72,216
Interest expense paid in equity shares 163,890
Interest expense on convertible debt 109,144
Consolidation of equity interest 342,776
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:    
Accounts receivable 2,802,739 2,228,175
Trade receivables - related party 165,220
Inventory (1,181,200) 4,877,271
Prepaid expenses and other assets 171,100 (1,363,888)
Other assets (1,186,589) (262,449)
Other liabilities 9,343
Accounts payable 976,287 (883,004)
Deposits from customers 72,301
Accrued expenses 395,634 (1,676,710)
Income taxes payable (31,951) (587,204)
Net cash provided by operating activities 565,051 6,749,528
Cash Flows from Investing Activities    
Purchase of property and equipment (865,538) (8,180,925)
Net cash used by investing activities (865,538) (8,180,925)
Cash Flows from Financing Activities    
Proceeds from notes payable 2,300,000
Payments on notes payable (214,560) (244,321)
Payments on secured loan (1,417,926)
Payments on bank loans (996,589) (793,877)
Proceeds from at-the-market offerings 360,695
Expenses on at-the-market offerings (18,323)
Proceeds from the issuance of Series B Preferred Stock 500,000
Expenses from the issuance of Series B Preferred Stock (25,000)
Revolving line of credit 1,387,344 (1,176,886)
Payments on capital lease obligations (11,246)
Net cash provided/(used) by financing activities (435,605) 84,916
Effect of exchange rate differences on cash and cash equivalents 1,356,495 230,803
Net increase (decrease) in cash 620,403 (1,115,678)
Cash beginning of period 2,315,935 11,974,752
Cash end of period 2,936,338 10,859,074
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period for interest 611,444 259,317
Cash paid during the period for income taxes 31,951 587,204
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Payment of convertible notes in common stock 220,000
Payment of interest on convertible notes in common stock 109,144
Payment of short-term notes payable in common stock 775,000
Dividends paid in equity shares $ 957,780