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Consolidated Balance Sheets As of May 31,2013 (Unaudited) and August 31,2012 (USD $)
May 31, 2013
Aug. 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 3,176,157 $ 4,137,547
Trade excluding joint ventures, less allowance for doubtful accounts of $20,000 at May 31, 2013 and August 31, 2012 2,801,488 2,516,961
Trade joint ventures 1,120,085 734,543
Fees for services provided to joint ventures 2,459,487 1,316,933
Income taxes 174,092 58,129
Inventories 5,216,976 4,151,197
Prepaid expenses 352,395 548,331
Deferred income taxes 596,085 596,085
Total current assets 15,896,765 14,059,726
PROPERTY AND EQUIPMENT, NET 5,126,133 4,288,618
OTHER ASSETS:    
Investments in joint ventures 23,320,080 21,461,492
Deferred income taxes 1,030,610 1,030,610
Patents and trademarks, net 1,061,725 961,181
Other 76,000 76,000
Total other assets 25,488,415 23,529,283
Total assets 46,511,313 41,877,627
CURRENT LIABILITIES:    
Current portion of note payable 76,119 76,120
Accounts payable 1,267,591 1,818,309
Accrued liabilities:    
Payroll and related benefits 1,055,766 1,565,866
Deferred joint venture royalties 288,000 288,000
Other 72,755 251,350
Total current liabilities 2,760,231 3,999,645
NOTE PAYABLE, NET OF CURRENT PORTION (Note 7) 876,325 933,413
COMMITMENTS AND CONTINGENCIES (Note 13)      
EQUITY:    
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding 0 0
Common stock, $0.02 par value per share; authorized 10,000,000 shares; issued and outstanding 4,428,036 and 4,403,656, respectively 88,561 88,073
Additional paid-in capital 11,557,585 11,130,966
Retained earnings 27,011,178 25,260,034
Accumulated other comprehensive income 334,236 277,583
Stockholders’ equity 38,991,560 36,756,656
Non-controlling interest 3,883,197 187,913
Total equity 42,874,757 36,944,569
Total liabilities and equity $ 46,511,313 $ 41,877,627