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Financing Obligation (Tables) | 12 Months Ended
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Aug. 31, 2020
Financing Obligation [Abstract] |
Financing Obligation |
﻿ |  |  |  |
﻿ |  |  |  |
﻿AUGUST 31, |  | 2020 |  | 2019
﻿Financing obligation payable in |  |  |  |
﻿monthly installments of $315 at |  |  |  |
﻿August 31, 2020, including |  |  |  |
﻿principal and interest, with two |  |  |  |
﻿percent annual increases |  |  |  |
﻿(imputed interest at 7.7%), |  |  |  |
﻿through June 2025 | $ | 16,648 | $ | 18,983
﻿Less current portion |  | (2,600) |  | (2,335)
﻿Total financing obligation, |  |  |  |
﻿less current portion | $ | 14,048 | $ | 16,648
﻿
Future Principal Maturities |
﻿ |  |
﻿ |  |
﻿YEAR ENDING |  |
﻿AUGUST 31, |  |
﻿2021 | $ | 2,600
﻿2022 |  | 2,887
﻿2023 |  | 3,199
﻿2024 |  | 3,538
﻿2025 |  | 4,424
﻿Thereafter |  | -
﻿ | $ | 16,648
﻿
Future Minimum Payments Under The Financing Obligation |
﻿ |  |
﻿ |  |
﻿YEAR ENDING |  |
﻿AUGUST 31, |  |
﻿2021 | $ | 3,798
﻿2022 |  | 3,874
﻿2023 |  | 3,952
﻿2024 |  | 4,031
﻿2025 |  | 3,301
﻿Thereafter |  | -
﻿Total future minimum financing |  |
﻿obligation payments |  | 18,956
﻿Less interest |  | (3,620)
﻿Present value of future minimum |  |
﻿financing obligation payments | $ | 15,336
﻿

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- Definition The entire disclosure for capital leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2209026 + Details
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- Definition Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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