Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Jun. 30, 2021 |
Jun. 30, 2020 |
| OPERATING ACTIVITIES |
|
|
| Net income |
$ 3,579,566
|
$ 2,411,865
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
140,427
|
129,620
|
| Stock-based compensation |
7,238
|
2,707
|
| Deferred income taxes |
(2,868)
|
(50,405)
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(1,355,557)
|
396,168
|
| Inventories |
230,751
|
(59,288)
|
| Prepaid expenses and other assets |
(235,406)
|
(30,703)
|
| Accounts payable and other liabilities |
936,243
|
372,463
|
| Net cash provided by operating activities |
3,300,394
|
3,172,427
|
| INVESTING ACTIVITIES |
|
|
| Purchases of fixed assets |
(25,679)
|
0
|
| Purchases of marketable securities |
0
|
0
|
| Proceeds from maturities of marketable securities |
0
|
0
|
| Cash used in investing activities |
(25,679)
|
0
|
| FINANCING ACTIVITIES |
|
|
| Payment of dividends to shareholders |
(4,833,232)
|
(4,835,038)
|
| Cash used in financing activities |
(4,833,232)
|
(4,835,038)
|
| Decrease in cash and cash equivalents |
(1,558,517)
|
(1,662,611)
|
| Cash and cash equivalents at beginning of period |
10,427,340
|
8,065,594
|
| Cash and cash equivalents at end of period |
8,868,823
|
6,402,983
|
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid during the period for income taxes |
$ 0
|
$ 0
|