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Consolidated Balance Sheets (November 30, 2011 Unaudited) (USD $)
Nov. 30, 2011
Aug. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 3,407,371 $ 3,266,362
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $20,000 at November 30, 2011 and August 31, 2011 2,846,182 2,515,316
Trade joint ventures 1,005,509 1,149,666
Fees for services provided to joint ventures 2,168,794 2,129,911
Inventories 3,967,254 3,842,854
Prepaid expenses 711,440 364,805
Deferred income taxes 221,600 221,600
Total current assets 14,328,150 13,490,514
PROPERTY AND EQUIPMENT, net 3,589,981 3,636,335
OTHER ASSETS:    
Investments in joint ventures 18,763,038 20,559,509
Deferred income taxes 1,410,700 1,410,700
Patents and trademarks, net 909,027 903,038
Other 41,746 39,646
21,124,511 22,912,893
39,042,642 40,039,742
CURRENT LIABILITIES:    
Current portion of note payable 76,119 76,119
Accounts payable 1,496,244 2,032,614
Income tax payable 160,420 195,762
Accrued liabilities:    
Payroll and related benefits 710,737 1,629,355
Deferred joint venture royalties 288,000 288,000
Other 237,056 182,916
Total current liabilities 2,968,576 4,404,766
NOTE PAYABLE, NET OF CURRENT PORTION (Note 6) 990,504 1,009,533
COMMITMENTS AND CONTINGENCIES (Note 13)      
EQUITY:    
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding      
Common stock, $0.02 par value per share; authorized 10,000,000 shares; issued and outstanding 4,397,324 and 4,353,058, respectively 87,947 87,061
Additional paid-in capital 10,847,692 10,137,809
Retained earnings 22,770,595 21,811,838
Accumulated other comprehensive income 1,318,675 2,496,940
Stockholders’ equity 35,024,909 34,533,648
Non-controlling interest 58,653 91,795
Total equity 35,083,562 34,625,443
$ 39,042,642 $ 40,039,742