Statements of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
Sep. 30, 2020 |
Sep. 30, 2019 |
| Net income |
$ 4,634,205
|
$ 7,429,481
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
259,241
|
266,916
|
| Stock-based compensation |
37,022
|
48,360
|
| Deferred income taxes |
(61,437)
|
75,521
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
771,942
|
(220,147)
|
| Inventories |
(44,074)
|
(90,456)
|
| Prepaid expenses and other assets |
108,697
|
41,687
|
| Accounts payable and other liabilities |
(164,625)
|
(130,726)
|
| Net cash provided by operating activities |
5,540,971
|
7,420,636
|
| INVESTING ACTIVITIES |
|
|
| Purchases of fixed assets |
|
(16,100)
|
| Purchases of marketable securities |
|
(3,013,530)
|
| Proceeds from maturities of marketable securities |
|
12,500,000
|
| Cash provided by investing activities |
|
9,470,370
|
| FINANCING ACTIVITIES |
|
|
| Repurchase of common stock |
(91,419)
|
|
| Payment of dividends to shareholders |
(9,670,076)
|
(9,692,020)
|
| Cash used in financing activities |
(9,761,495)
|
(9,692,020)
|
| (Decrease) increase in cash and cash equivalents |
(4,220,524)
|
7,198,986
|
| Cash and cash equivalents at beginning of period |
8,065,594
|
6,877,304
|
| Cash and cash equivalents at end of period |
3,845,070
|
14,076,290
|
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid during the period for income taxes |
$ 934,788
|
$ 1,230,000
|