v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ (3,863,056) $ 18,446,994
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation expense 8,713,445 6,338,224
Accreted interest on PPP loans 74,718 75,380
(Loss) gain on sale of equipment (50,532) (292,166)
Provision for deferred taxes (1,753,681) 412,457
Amortization of intangible assets 459,259 324,426
Accreted interest on note payable 45,000 53,977
Vested stock grants 58,888 35,556
Decrease in accounts receivable-trade 4,000,870 1,046,178
Increase in retainage receivable (1,808,157) (2,689,270)
Decrease (increase) in other receivables 1,366,200 (605,252)
Increase in contract assets (373,797) (5,090,894)
Increase in prepaid expenses and other (474,150) (725,714)
Decrease in accounts payable (2,797,474) (2,580,965)
(Decrease) increase in accrued expenses and other current liabilities (203,738) 4,573,985
Increase in contract liabilities 10,028,162 201,617
Net cash provided by operating activities 13,421,957 19,524,533
Cash flows from investing activities:    
Investment in property and equipment (9,101,722) (6,666,139)
Acquistion of Tribute Contracting & Consultants, net of cash aquired (20,783,224)  
Proceeds from sales of property and equipment 724,961 995,324
Net cash used in investing activities (29,159,985) (5,670,815)
Cash flows from financing activities:    
Proceeds from long-term debt 19,676,024  
Borrowings on lines of credit and short term debt, net of (repayments) 7,073,976 (9,663,150)
Cash dividend on common stock (1,002,668) (994,031)
Treasury stock purchased (844,230) (41,380)
Principal payments on long-term debt (6,752,876) (5,048,862)
Net cash provided by (used in) financing activities 18,150,226 (15,747,423)
Increase (decrease) in cash and cash equivalents 2,412,198 (1,893,705)
Cash and cash equivalents beginning of period 12,926,036 16,431,572
Cash and cash equivalents end of period 15,338,234 14,537,867
Supplemental schedule of noncash investing and financing activities:    
Purchases of property & equipment under financing agreements 1,340,563 1,696,436
Net operating lease right-of-use assets received in exchange for operating lease liabilities 669,056 (36,667)
Common dividends declared but not paid 501,555  
Common stock issued in Tribute Contracting & Consultants acquisition 2,000,000  
Cash paid during the period for:    
Interest 1,942,786 1,690,100
Income taxes $ 1,997,969 $ 1,251,818