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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:      
Net income $ 8,193,694 $ 7,103,057 $ 5,933,688
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation expense 375,286 395,604 425,696
Amortization expense 13,638 12,137 12,705
Loss on disposal of fixed assets 2,244    
Bad debt expense 0 286,606 160,944
Deferred tax benefits (1,958) (37,311) (24,142)
Non-cash service expense 50,679    
Changes in operating assets and liabilities:      
Accounts receivable 995,327 (7,151,260) 2,419,491
Other receivables 680,970 (1,215,167) 411,554
Notes receivable 13,119 (216,478) (121,937)
Inventories (3,846,722) (9,065,712) (3,505,158)
Advance to suppliers 698,903 1,580,700 (6,153,011)
Accounts payable 2,593,103 861,192 (417,453)
Accrued expenses and other current liabilities (1,314,005) 1,698,015 791,312
Accrued payroll and welfare 506,894 600,619 (49,512)
Advance from customers (887,934) 1,563,693 282,817
Income tax payable 83,250 1,349,310 979,288
Net cash provided (used in) operating activities 8,156,488 (2,234,995) 1,146,282
Cash Flows from Investing Activities:      
Purchases of property, plant and equipment (880,289) (467,138) (155,152)
Proceed from disposal of property, plant and equipment 5,963    
Disposal of intangible asset   257,863  
Purchases of intangible assets (11,149) (501,000) (6,704)
Net proceeds placed into long-term deposit (7,682,151) (4,444,170)  
Net cash used in investing activities (8,567,626) (5,154,445) (161,856)
Cash Flows from Financing activities:      
Net proceeds released from (placed into) bank acceptance notes 308,005 (380,000) 5,582,099
Net proceeds released from (placed into) short-term investment 559,030 (893,945)  
Net proceeds released from restricted cash   539,381 2,651,704
Proceeds from short-term bank borrowings 25,875,962 24,056,279 (499,904)
Repayments of short-term bank borrowings (28,199,497) (25,529,488) (3,816,458)
Net proceeds received from (repaid to) related parties (2,279,911) 5,665,914 6,051,523
Net cash provided by (used in) financing activities (3,736,411) 3,458,141 9,968,964
Effect of exchange rate changes on cash (83,902) 335,413 201,436
Net change in cash and cash equivalents (4,231,451) (3,595,886) 11,154,826
Cash and cash equivalents at the beginning of year 7,682,589 11,278,475 123,649
Cash and cash equivalents at the end of year 3,451,138 7,682,589 11,278,475
Supplemental disclosures of cash flows information:      
Non-cash financing activities   9,842,676  
Cash paid for income taxes 170,331 38,218 54,215
Cash paid for interest expenses $ 1,197,504 $ 1,218,757 $ 1,233,066

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