v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:      
Net income $ 5,933,688 $ 5,302,691 $ 5,008,681
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation expense 425,696 442,793 493,690
Amortization expense 12,705 13,248 14,017
Bad debt expense 160,944 691,156 691,777
Deferred tax benefits (24,142) (103,673) 0
Changes in operating assets and liabilities:      
Accounts receivable 2,419,491 (10,200,868) (10,604,662)
Other receivables 411,554 (381,751) 18,822
Notes receivable (121,937) (76,531) 279,014
Inventories (3,505,158) (775,275) 2,546,046
Advance to suppliers (6,153,011) (805,016) (2,352,385)
Accounts payable (417,453) 796,189 (277,621)
Accrued expenses and other current liabilities 791,312 412,894 (325,564)
Accrued payroll and welfare (49,512) 50,897 63,728
Advance from customers 282,817 1,400,622 (1,197,632)
Income tax payable 979,288 2,031,515 2,861,830
Net cash provided (used in) operating activities 1,146,282 (1,201,109) (2,780,259)
Cash Flows from Investing Activities:      
Purchases of property, plant and equipment (155,152) (123,945) (289,956)
Purchases of intangible assets (6,704) 0 0
Net cash used in investing activities (161,856) (123,945) (289,956)
Cash Flows from Financing activities:      
Net proceeds from issuance of shares 5,582,099 0 0
Capital contributions from non-controlling interest 0 15,306 0
Net proceeds released from (placed into) restricted cash 2,651,704 (206,633) 446,732
Net proceeds (repayments) from short-term bank borrowings (499,904) 2,148,310 98,793
Proceeds from notes payable borrowings 0 0 161,955
Repayments on notes payable (3,816,458) (2,602,037) 0
Proceeds from related parties 6,051,523 1,485,555 2,034,454
Net cash provided by financing activities 9,968,964 840,501 2,741,934
Effect of exchange rate changes on cash 201,436 (18,589) (22,383)
Net increase in cash and cash equivalents 11,154,826 (503,142) (350,664)
Cash and cash equivalents at the beginning of year 123,649 626,791 977,455
Cash and cash equivalents at the end of year 11,278,475 123,649 626,791
Supplemental disclosures of cash flows information:      
Cash paid for income taxes 54,215 108,825 49,543
Cash paid for interest expenses $ 1,233,066 $ 939,914 $ 1,272,903

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