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ACQUISITION/MERGER WITH SUBSIDIARIES (Tables) | 12 Months Ended
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Aug. 31, 2020
Business Combinations [Abstract] |
Allocation of purchase price |
Allocation of purchase price |  |  |  |
Assets acquired, Including cash of $3,799,134 and accounts receivable of $629,481 |  | $ | 5,006,892 |
Developed Technologies Acquired |  |  | 8,010,000 |
Estimated value of Intangibles assets acquired (Customer Lists, trade name etc.) |  |  | 4,160,000 |
Estimated Goodwill acquired |  |  | 2,533,987 |
Liabilities Assumed |  |  | (1,117,519 | )
Total Consideration |  | $ | 18,593,360 |
Schedule of statement of income |
Schedule of statement of income |  |  |  |  |  |  |  |  |
|  | (Pro forma) |  |  | (Pro forma) |  |  | (Pro forma) |
|  | 2020* |  |  | 2019 |  |  | 2018 |
|  | (in thousands) |  |  | (in thousands) |  |  | (in thousands) |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Net Sales |  | $ | 43,970 |  |  | $ | 36,918 |  |  | $ | 31,891 |
Net Income |  | $ | 10,630 |  |  | $ | 9,250 |  |  | $ | 9,132 |
*Balances include five months actual results for Lixoft.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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