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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2018
Aug. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 4,610,325 $ 6,360,201
Available for sale securities 3,282,915 3,766,984
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $50,000 at May 31, 2018 and $40,000 at August 31, 2017 8,692,708 5,912,631
Trade joint ventures 597,805 691,752
Fees for services provided to joint ventures 1,352,249 1,302,944
Income taxes 369,136 137,256
Inventories 9,174,743 7,456,552
Prepaid expenses 1,081,190 439,298
Total current assets 29,161,071 26,067,618
PROPERTY AND EQUIPMENT, NET 7,233,307 7,359,662
OTHER ASSETS:    
Investments in joint ventures 22,412,792 20,035,074
Deferred income taxes 1,056,565 1,756,565
Patents and trademarks, net 1,196,222 1,322,089
Other 153,846 71,685
Total other assets 24,819,425 23,185,413
Total assets 61,213,803 56,612,693
CURRENT LIABILITIES:    
Accounts payable 3,316,169 2,676,610
Income taxes payable 112,686
Accrued liabilities:    
Payroll and related benefits 1,804,451 1,540,386
Other 1,115,595 677,621
Total current liabilities 6,348,901 4,894,617
COMMITMENTS AND CONTINGENCIES (Note 12)
EQUITY:    
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding
Common stock, $0.02 par value per share; authorized 15,000,000 shares as of May 31, 2018 and 10,000,000 shares as of August 31, 2017; issued and outstanding 4,541,304 and 4,535,018, respectively 90,826 90,700
Additional paid-in capital 14,516,510 14,163,509
Retained earnings 40,275,326 37,077,483
Accumulated other comprehensive loss (3,058,672) (2,471,064)
Stockholders’ equity 51,823,990 48,860,628
Non-controlling interest 3,040,912 2,857,448
Total equity 54,864,902 51,718,076
Total liabilities and equity $ 61,213,803 $ 56,612,693