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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Feb. 28, 2022
Accounting Policies [Abstract] |
Schedule of disaggregation of revenue |
Schedule of disaggregation of revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Three Months Ended February 28, |  |  | Six Months Ended February 28, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Software licenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Point in time |  | $ | 9,493 |  |  | $ | 7,536 |  |  | $ | 16,600 |  |  | $ | 13,472 |
Over time |  |  | 265 |  |  |  | 291 |  |  |  | 520 |  |  |  | 503 |
Consulting services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over time |  |  | 5,038 |  |  |  | 5,320 |  |  |  | 10,093 |  |  |  | 9,873 |
Total revenue |  | $ | 14,796 |  |  | $ | 13,147 |  |  | $ | 27,213 |  |  | $ | 23,848 |
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 |  | $ | 1,653 |
Lease liabilities, current |  | $ | 336 |
Lease liabilities, long-term |  | $ | 1,314 |
Operating lease costs |  | $ | 256 |
Weighted average remaining lease term |  |  | 3.55 years |
Weighted average discount rate |  |  | 3.41% |
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, February 28, 2022 |  | $ | 4,789 |  |  | $ | 5,598 |  |  | $ | 2,534 |  |  | $ | 12,921 |
Schedule of fair value measurements |
Schedule of fair value measurements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
February 28, 2022: |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash and cash equivalents |  | $ | 60,373 |  |  | $ | – |  |  | $ | – |  |  | $ | 60,373 |
Short-term investments |  | $ | 63,922 |  |  | $ | – |  |  | $ | – |  |  | $ | 63,922 |
Acquisition-related contingent consideration obligations |  | $ | – |  |  | $ | – |  |  | $ | 3,460 |  |  | $ | 3,460 |
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 |  |  | 243 |
Value at February 28, 2022 |  | $ | 3,460 |
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 |  |  | $ | 75 |  |  | $ | – |
Termination/nonassertion agreement-TSRL Inc. |  | Straight line 10 years |  |  | 6,000 |  |  |  | 4,675 |  |  |  | 1,325 |
Developed technologies–DILIsym acquisition |  | Straight line 9 years |  |  | 2,850 |  |  |  | 1,504 |  |  |  | 1,346 |
Intellectual rights of Entelos Holding Corp. |  | Straight line 10 years |  |  | 50 |  |  |  | 18 |  |  |  | 32 |
Developed technologies–Lixoft acquisition |  | Straight line 16 years |  |  | 8,010 |  |  |  | 959 |  |  |  | 7,051 |
|  |  |  | $ | 16,985 |  |  | $ | 7,231 |  |  | $ | 9,754 |
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 |
Simulations Plus |  |  |  |  |  |  |  |  |  |  |  |  |  |
ERP |  | Straight line 15 years |  | $ | 1,702 |  |  | $ | 24 |  |  | $ | 1,678 |
Cognigen |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 8 years |  |  | 1,100 |  |  |  | 1,031 |  |  |  | 69 |
Trade name |  | None |  |  | 500 |  |  |  | – |  |  |  | 500 |
Covenants not to compete |  | Straight line 5 years |  |  | 50 |  |  |  | 50 |  |  |  | – |
DILIsym |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 10 years |  |  | 1,900 |  |  |  | 903 |  |  |  | 997 |
Trade name |  | None |  |  | 860 |  |  |  | – |  |  |  | 860 |
Covenants not to compete |  | Straight line 4 years |  |  | 80 |  |  |  | 80 |  |  |  | – |
Lixoft |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | Straight line 14 years |  |  | 2,550 |  |  |  | 349 |  |  |  | 2,201 |
Trade name |  | None |  |  | 1,550 |  |  |  | – |  |  |  | 1,550 |
Covenants not to compete |  | Straight line 3 years |  |  | 60 |  |  |  | 38 |  |  |  | 22 |
|  |  |  | $ | 10,352 |  |  | $ | 2,475 |  |  | $ | 7,877 |
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 |
Earnings Per Share (Details - Basic and Diluted Earnings per share) |
(in thousands) |  | Three Months Ended February 28, |  |  | Six Months Ended February 28, |
|  | 2022 |  |  | 2021 |  |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common shareholders |  | $ | 4,409 |  |  | $ | 3,211 |  |  | $ | 7,435 |  |  | $ | 5,690 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average number of common shares outstanding during the period |  |  | 20,177 |  |  |  | 20,006 |  |  |  | 20,164 |  |  |  | 19,968 |
Dilutive effect of stock options |  |  | 568 |  |  |  | 836 |  |  |  | 574 |  |  |  | 818 |
Common stock and common stock equivalents used for diluted earnings per share |  |  | 20,745 |  |  |  | 20,842 |  |  |  | 20,738 |  |  |  | 20,786 |

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