Statements of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
Sep. 30, 2018 |
Sep. 30, 2017 |
| OPERATING ACTIVITIES |
|
|
|
| Net income |
$ 8,227,659
|
|
$ 6,458,650
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
357,166
|
|
480,143
|
| Stock-based compensation |
93,360
|
|
40,920
|
| Deferred income taxes |
(36,743)
|
|
(113,718)
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
(156,451)
|
|
777,184
|
| Inventories |
74,476
|
|
(146,180)
|
| Prepaid expenses and other assets |
(15,588)
|
|
84,093
|
| Accounts payable and accrued expenses |
(273,761)
|
|
(122,053)
|
| Deferred revenue |
|
|
(142,733)
|
| Net cash provided by operating activities |
8,270,118
|
|
7,316,306
|
| INVESTING ACTIVITIES |
|
|
|
| Purchases of fixed assets |
(37,985)
|
|
(526,377)
|
| Purchases of marketable securities |
(6,679,727)
|
|
(12,138,960)
|
| Proceeds from maturities and sales of marketable securities |
9,300,000
|
|
11,940,000
|
| Net cash provided by (used in) investing activities |
2,582,288
|
|
(725,337)
|
| FINANCING ACTIVITIES |
|
|
|
| Proceeds from sale of common stock |
124,450
|
|
|
| Payment of dividends to shareholders |
(9,684,020)
|
|
(9,682,020)
|
| Net cash used in financing activities |
(9,559,570)
|
|
(9,682,020)
|
| Increase (decrease) in cash and cash equivalents |
1,292,836
|
|
(3,091,051)
|
| Cash and cash equivalents at beginning of period |
4,755,082
|
[1] |
8,199,364
|
| Cash and cash equivalents at end of period |
6,047,918
|
|
5,108,313
|
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the period for income taxes |
$ 1,866,045
|
|
$ 2,975,019
|
|
|