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11. ACQUISITION/MERGER WITH LIXOFT (Tables) | 9 Months Ended
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May 31, 2020
Business Combinations [Abstract] |
Allocation of purchase price |
Assets acquired, Including cash of $3,799,134 and accounts receivable of $629,481 |  | $ | 4,994,160 |
Developed Technologies Acquired |  |  | 8,030,000 |
Estimated value of Intangibles assets acquired (Customer Lists, trade name etc.) |  |  | 4,160,000 |
Estimated Goodwill acquired |  |  | 2,404,973 |
Liabilities Assumed |  |  | (862,208 | )
Total Consideration |  | $ | 18,726,925 |
Proforma information |
|  | For the three-month period ended |  |  | For the nine-month period ended |
|  | May 31, (in 1000’s) (Unaudited) |  |  | May 31, (in 1000’s) (Unaudited) |
|  | (Pro forma)* |  |  | (Pro forma) |  |  | (Pro forma)* |  |  | (Pro forma) |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net Sales |  | $ | 12,422 |  |  | $ | 10,520 |  |  | $ | 34,430 |  |  | $ | 28,389 |
Net Income |  | $ | 3,565 |  |  | $ | 2,860 |  |  | $ | 8,442 |  |  | $ | 7,076 |

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