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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Nov. 30, 2021
Accounting Policies [Abstract] |
Property and Equipment estimated useful lives |
Property and Equipment estimated useful lives |
Equipment | 5 years
Computer equipment | 3 to 7 years
Furniture and fixtures | 5 to 7 years
Leasehold improvements | Shorter of life of asset or lease
Balance sheet information related to operating leases |
Balance sheet information related to operating leases |  |  |
(in thousands) |  |  |
Right-of-use assets |  | $ | 1,146 |
Lease liabilities, current |  | $ | 338 |
Lease liabilities, long-term |  | $ | 810 |
Operating lease costs |  | $ | 141 |
Weighted average remaining lease term |  |  | 2.25 years |
Weighted average discount rate |  |  | 3.79% |
Schedule of reconciliation of goodwill |
Schedule of reconciliation of goodwill |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Cognigen |  |  | DILIsym |  |  | Lixoft |  |  | Total |
Balance, August 31, 2021 |  | $ | 4,789 |  |  | $ | 5,598 |  |  | $ | 2,534 |  |  | $ | 12,921 |
Addition |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Impairments |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Balance, November 30, 2021 |  | $ | 4,789 |  |  | $ | 5,598 |  |  | $ | 2,534 |  |  | $ | 12,921 |
Schedule of fair value measurements |
Schedule of fair value measurements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash and cash equivalents |  | $ | 41,680 |  |  | $ | – |  |  | $ | – |  |  | $ | 41,680 |
Short-term investments |  | $ | 82,364 |  |  | $ | – |  |  | $ | – |  |  | $ | 82,364 |
Acquisition-related contingent consideration obligations |  | $ | – |  |  | $ | – |  |  | $ | 3,338 |  |  | $ | 3,338 |
August 31, 2021:
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash and cash equivalents |  | $ | 36,984 |  |  | $ | – |  |  | $ | – |  |  | $ | 36,984 |
Short-term investments |  | $ | 86,484 |  |  | $ | – |  |  | $ | – |  |  | $ | 86,484 |
Acquisition-related contingent consideration obligations |  | $ | – |  |  | $ | – |  |  | $ | 3,217 |  |  | $ | 3,217 |
Reconciliation of contingent consideration |
Reconciliation of contingent consideration |  |  |  |
(in thousands) |  |  |
Value at August 31, 2021 |  | $ | 3,217 |
Contingent consideration payments |  |  | – |
Change in value of contingent consideration |  |  | 121 |
Value at November 30, 2021 |  | $ | 3,338 |
Schedule of intellectual property |
Schedule of intellectual property |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Amortization Period |  | Acquisition Value |  |  | Accumulated Amortization |  |  | Net Book Value |
Royalty Agreement buy out-Enslein Research |  | Straight line 10 years |  | $ | 75 |  |  | $ | 73 |  |  | $ | 2 |
Termination/nonassertion agreement-TSRL Inc. |  | Straight line 10 years |  |  | 6,000 |  |  |  | 4,525 |  |  |  | 1,475 |
Developed technologies–DILIsym acquisition |  | Straight line 9 years |  |  | 2,850 |  |  |  | 1,425 |  |  |  | 1,425 |
Intellectual rights of Entelos Holding Corp. |  | Straight line 10 years |  |  | 50 |  |  |  | 16 |  |  |  | 34 |
Developed technologies–Lixoft acquisition |  | Straight line 16 years |  |  | 8,010 |  |  |  | 834 |  |  |  | 7,176 |
|  |  |  | $ | 16,985 |  |  | $ | 6,873 |  |  | $ | 10,112 |
The following table summarizes intellectual property as of August 31, 2021:
(in thousands) |  | Amortization Period |  | Acquisition Value |  |  | Accumulated Amortization |  |  | Net Book Value |
Royalty Agreement buy out-Enslein Research |  | Straight line 10 years |  | $ | 75 |  |  | $ | 71 |  |  | $ | 4 |
Termination/nonassertion agreement-TSRL Inc. |  | Straight line 10 years |  |  | 6,000 |  |  |  | 4,375 |  |  |  | 1,625 |
Developed technologies–DILIsym acquisition |  | Straight line 9 years |  |  | 2,850 |  |  |  | 1,346 |  |  |  | 1,504 |
Intellectual rights of Entelos Holding Corp. |  | Straight line 10 years |  |  | 50 |  |  |  | 15 |  |  |  | 35 |
Developed technologies–Lixoft acquisition |  | Straight line 16 years |  |  | 8,010 |  |  |  | 709 |  |  |  | 7,301 |
|  |  |  | $ | 16,985 |  |  | $ | 6,516 |  |  | $ | 10,469 |
Schedule of other intangible assets |
Schedule of other intangible assets |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Amortization Period |  | Acquisition Value |  |  | Accumulated Amortization |  |  | Net Book Value |
Cognigen |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 8 years |  | $ | 1,100 |  |  | $ | 997 |  |  | $ | 103 |
Trade name |  | None |  |  | 500 |  |  |  | – |  |  |  | 500 |
Covenants not to compete |  | Straight line 5 years |  |  | 50 |  |  |  | 50 |  |  |  | – |
DILIsym |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 10 years |  |  | 1,900 |  |  |  | 855 |  |  |  | 1,045 |
Trade name |  | None |  |  | 860 |  |  |  | – |  |  |  | 860 |
Covenants not to compete |  | Straight line 4 years |  |  | 80 |  |  |  | 80 |  |  |  | – |
Lixoft |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 14 years |  |  | 2,550 |  |  |  | 304 |  |  |  | 2,246 |
Trade name |  | None |  |  | 1,550 |  |  |  | – |  |  |  | 1,550 |
Covenants not to compete |  | Straight line 3 years |  |  | 60 |  |  |  | 33 |  |  |  | 27 |
|  |  |  | $ | 8,650 |  |  | $ | 2,319 |  |  | $ | 6,331 |
The following table summarizes our other intangible assets as of August 31, 2021:
(in thousands) |  | Amortization Period |  | Acquisition Value |  |  | Accumulated Amortization |  |  | Net Book Value |
Cognigen |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 8 years |  | $ | 1,100 |  |  | $ | 963 |  |  | $ | 137 |
Trade name |  | None |  |  | 500 |  |  |  | – |  |  |  | 500 |
Covenants not to compete |  | Straight line 5 years |  |  | 50 |  |  |  | 50 |  |  |  | – |
DILIsym |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 10 years |  |  | 1,900 |  |  |  | 807 |  |  |  | 1,093 |
Trade name |  | None |  |  | 860 |  |  |  | – |  |  |  | 860 |
Covenants not to compete |  | Straight line 4 years |  |  | 80 |  |  |  | 80 |  |  |  | – |
Lixoft |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 14 years |  |  | 2,550 |  |  |  | 258 |  |  |  | 2,292 |
Trade name |  | None |  |  | 1,550 |  |  |  | – |  |  |  | 1,550 |
Covenants not to compete |  | Straight line 3 years |  |  | 60 |  |  |  | 28 |  |  |  | 32 |
|  |  |  | $ | 8,650 |  |  | $ | 2,186 |  |  | $ | 6,464 |
Schedule of earnings per share |
Schedule of earnings per share |  |  |  |  |  |  |  |
|  | Three months ended November 30, |
(in thousands) |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |
Net income attributable to common shareholders |  | $ | 3,026 |  |  | $ | 2,479 |
Denominator: |  |  |  |  |  |  |  |
Weighted-average number of common shares outstanding during the period |  |  | 20,150 |  |  |  | 19,930 |
Dilutive effect of stock options |  |  | 596 |  |  |  | 869 |
Common stock and common stock equivalents used for diluted earnings per share |  |  | 20,746 |  |  |  | 20,799 |

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