XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.21.4

CONTRACTS PAYABLE | 3 Months Ended
--- | ---
Nov. 30, 2021
Other Liabilities Disclosure [Abstract] |
CONTRACTS PAYABLE | NOTE 6: CONTRACTS PAYABLE Lixoft Acquisition Liabilities: On April 1, 2020, we acquired Lixoft. The agreement provided for a 24-month, $2.0 million holdback provision against certain representations and warrantees, comprised of $1.3 million of cash and shares of stock valued at $667 thousand issued at the date of the agreement. In addition, based on a revenue-growth formula for the two years subsequent to April 1, 2020, the agreement calls for earnout payments of up to $5.5 million (two-thirds cash and one-third newly issued, unregistered shares of our common stock). The former shareholders of Lixoft can earn up to $2.0 million the first year and $3.5 million in year two. In June 2021, $2.0 million was paid out under the first earnout payment, which was comprised of $1.3 million of cash and $666 thousand worth of common stock. As of November 30, 2021 and August 31, 2021, the following liabilities have been recorded:
Schedule of Liabilities |  |  |  |  |  |
(in thousands) |  | November 30, 2021 |  |  | August 31, 2021 |
Holdback liability |  | $ | 1,333 |  |  | $ | 1,333 |
Earnout liability |  |  | 3,338 |  |  |  | 3,217 |
Sub total |  | $ | 4,671 |  |  | $ | 4,550 |
Less: current portion |  |  | 4,671 |  |  |  | 4,550 |
Long-term portion |  | $ | – |  |  | $ | – |

X
- References No definition available. + Details
Name: | us-gaap_OtherLiabilitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_OtherLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration