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Consolidated Balance Sheets (Current Period Unaudited) (USD $)
May 31, 2014
Aug. 31, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 8,549,789 $ 4,314,258
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $40,000 at May 31, 2014 and $20,000 at August 31, 2013 3,265,913 3,329,995
Trade joint ventures 768,574 859,434
Fees for services provided to joint ventures 2,833,373 2,446,017
Income taxes 307,991 144,939
Inventories 5,535,014 5,111,549
Prepaid expenses 551,930 258,765
Deferred income taxes 467,548 467,548
Total current assets 22,280,132 16,932,505
PROPERTY AND EQUIPMENT, NET 5,422,925 5,323,612
OTHER ASSETS:    
Investments in joint ventures 22,103,275 24,702,981
Deferred income taxes 1,034,212 1,034,212
Patents and trademarks, net 1,184,824 1,060,639
Other 163,499  
Total other assets 24,485,810 26,797,832
Total assets 52,188,867 49,053,949
CURRENT LIABILITIES:    
Current portion of note payable (Note 6)   76,119
Accounts payable 1,630,733 1,830,729
Accrued liabilities:    
Payroll and related benefits 1,592,640 1,277,942
Deferred joint venture royalties 288,000 288,000
Other 298,490 189,263
Total current liabilities 3,809,863 3,662,053
NOTE PAYABLE, NET OF CURRENT PORTION (Note 6)   857,295
COMMITMENTS AND CONTINGENCIES (Note 12)      
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 4,477,902 and 4,432,036, respectively 89,558 88,641
Additional paid-in capital 12,394,854 11,701,942
Retained earnings 31,490,773 28,626,928
Accumulated other comprehensive income 812,834 316,161
Stockholders’ equity 44,788,019 40,733,672
Non-controlling interest 3,590,985 3,800,929
Total equity 48,379,004 44,534,601
Total liabilities and equity $ 52,188,867 $ 49,053,949