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13. ACQUISITION/MERGER WITH SUBSIDIARIES (Tables) | 12 Months Ended
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Aug. 31, 2019
Schedule of statement of income |
|  | (Actual) |  |  | (Actual) |  |  | (Pro forma)* |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Net Sales |  | $ | 33,970 |  |  | $ | 29,667 |  |  | $ | 27,184 |
Net Income |  | $ | 8,583 |  |  | $ | 8,935 |  |  | $ | 6,325 |
*Includes 3 months actual results for the period of June 1, 2017 to August 31, 2017
DILIsym |
Allocation of purchase price | The following table summarizes the preliminary allocation of the purchase price for DILIsym:
Assets acquired, including accounts receivable of $255,000 and estimated Contracts receivable of $153,000 |  | $ | 2,283,110 |
Developed technologies acquired |  |  | 2,850,000 |
Estimated value of intangibles acquired (Customer Lists, trade name etc.) |  |  | 2,840,000 |
Current liabilities assumed |  |  | (911,049 | )
Goodwill |  |  | 5,597,950 |
Estimated deferred income taxes |  |  | (2,212,160 | )
Total Consideration |  | $ | 10,463,310 |

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