XML 18 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (February 29, 2012 Unaudited) (USD $)
Feb. 29, 2012
Aug. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 3,335,798 $ 3,266,362
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $20,000 at February 29, 2012 and August 31, 2011 2,746,853 2,515,316
Trade joint ventures 1,465,840 1,149,666
Fees for services provided to joint ventures 1,965,116 2,129,911
Inventories 3,936,941 3,842,854
Prepaid expenses 786,126 364,805
Deferred income taxes 221,600 221,600
Total current assets 14,458,274 13,490,514
PROPERTY AND EQUIPMENT, NET 3,544,149 3,636,335
OTHER ASSETS:    
Investments in joint ventures 18,900,336 20,559,509
Deferred income taxes 1,410,700 1,410,700
Patents and trademarks, net 910,721 903,038
Other 43,846 39,646
Total other assets 21,265,603 22,912,893
Total assets 39,268,026 40,039,742
CURRENT LIABILITIES:    
Current portion of note payable 76,119 76,119
Accounts payable 1,104,046 2,032,614
Income tax payable 130,755 195,762
Accrued liabilities:    
Payroll and related benefits 846,956 1,629,355
Deferred joint venture royalties 288,000 288,000
Other 141,363 182,916
Total current liabilities 2,587,239 4,404,766
NOTE PAYABLE, NET OF CURRENT PORTION (Note 6) 971,474 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 4,399,290 and 4,353,058, respectively 87,986 87,061
Additional paid-in capital 10,935,216 10,137,809
Retained earnings 23,376,789 21,811,838
Accumulated other comprehensive income 1,250,368 2,496,940
Stockholders’ equity 35,650,359 34,533,648
Non-controlling interest 58,954 91,795
Total equity 35,709,313 34,625,443
Total liabilities and stockholders’ equity $ 39,268,026 $ 40,039,742