v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 2,921,029 $ (5,944,685)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 6,724,766 5,586,230
Accreted interest on PPP loans 49,632 49,738
Gain on sale of equipment (88,749) (179,242)
Provision for deferred taxes 1,162,499 (1,839,881)
Vested restricted stock award compensation 58,680 32,758
Tax settlement on shares repurchased (12,048)  
Amortization of intangible assets 690,345 295,060
Accreted interest on note payable 3,900 25,000
Decrease in accounts receivable-trade 15,979,812 10,162,409
(Increase) decrease in retainage receivable (2,552,081) 599,786
(Increase) decrease in other receivables (137,479) 1,389,784
Decrease in contract assets 7,681,297 3,581,095
Increase in prepaid expenses and other (1,420,233) (1,020,822)
Decrease in accounts payable (9,461,052) (4,561,534)
Decrease in accrued expenses and other current liabilities (320,788) (3,497,456)
Increase in contract liabilities 1,155,516 5,311,068
Net cash provided by operating activities 22,435,046 9,989,308
Cash flows from investing activities:    
Investment in property and equipment (5,719,129) (5,087,101)
Acquisition of Tribute Contracting & Consultants   (20,783,224)
Proceeds from sales of property and equipment 301,763 596,314
Net cash used in investing activities (5,417,366) (25,274,011)
Cash flows from financing activities:    
Proceeds from long-term debt   16,000,000
Borrowings on lines of credit and short-term debt, net of (repayments) (24,750,000) 1,250,000
Treasury stock purchased (847,818)  
Cash dividend on common stock (498,725) (501,164)
Proceeds from capital raise, net of discounts and fees 21,231,333  
Principal payments on long-term debt (14,283,429) (4,463,936)
Net cash (used in) provided by financing activities (19,148,639) 12,284,900
Decrease in cash and cash equivalents (2,130,959) (2,999,803)
Cash and cash equivalents beginning of period 12,241,408 12,926,036
Cash and cash equivalents end of period 10,110,449 9,926,233
Supplemental schedule of noncash investing and financing activities:    
Purchases of property & equipment under financing agreements 1,927,914 201,538
Net operating lease right-of-use assets received in exchange for operating lease liabilities 936,611 506,305
Common dividends declared but not paid 558,669 501,504
Common stock issued in Tribute Contracting & Consultants acquisition   2,000,000
Cash paid during the year for:    
Interest 1,498,051 1,232,072
Income taxes $ 405,263 $ 1,170,000