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Consolidated Balance Sheets (May 31, 2012 Unaudited) (USD $)
May 31, 2012
Aug. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 4,465,898 $ 3,266,362
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $20,000 at May 31, 2012 and August 31, 2011 2,726,522 2,515,316
Trade joint ventures 1,108,104 1,149,666
Fees for services provided to joint ventures 1,930,040 2,129,911
Inventories 3,884,604 3,842,854
Prepaid expenses 897,403 364,805
Deferred income taxes 221,600 221,600
Total current assets 15,234,171 13,490,514
PROPERTY AND EQUIPMENT, NET 3,753,015 3,636,335
OTHER ASSETS:    
Investments in joint ventures 19,568,795 20,559,509
Deferred income taxes 1,410,700 1,410,700
Patents and trademarks, net 914,969 903,038
Other 45,946 39,646
Total other assets 21,940,410 22,912,893
Total assets 40,927,596 40,039,742
CURRENT LIABILITIES:    
Current portion of note payable 76,119 76,119
Accounts payable 1,464,212 2,032,614
Income tax payable 292,406 195,762
Accrued liabilities:    
Payroll and related benefits 1,487,790 1,629,355
Deferred joint venture royalties 288,000 288,000
Other 258,251 182,916
Total current liabilities 3,866,778 4,404,766
NOTE PAYABLE, NET OF CURRENT PORTION (Note 6) 952,444 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 4,401,656 and 4,353,058, respectively 88,033 87,061
Additional paid-in capital 11,039,831 10,137,809
Retained earnings 24,830,824 21,811,838
Accumulated other comprehensive income (65,718) 2,496,940
Stockholders’ equity 35,892,970 34,533,648
Non-controlling interest 215,404 91,795
Total equity 36,108,374 34,625,443
Total liabilities and equity $ 40,927,596 $ 40,039,742