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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Nov. 30, 2019
Aug. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 4,106,796 $ 5,856,758
Available for sale securities 2,987,095 3,565,258
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $65,000 as of November 30, 2019 and August 31, 2019 10,360,766 9,779,518
Trade joint ventures 641,675 824,473
Fees for services provided to joint ventures 1,365,864 1,268,000
Income taxes 68,085 457,018
Inventories 11,259,449 10,488,728
Prepaid expenses 1,170,026 1,062,609
Total current assets 31,959,756 33,302,362
PROPERTY AND EQUIPMENT, NET 7,346,477 7,358,159
OPERATING LEASE RIGHT OF USE ASSET 598,784
OTHER ASSETS:    
Investments in joint ventures 25,402,933 24,207,339
Deferred income taxes 1,646,900 1,634,258
Patents and trademarks, net 972,514 1,008,969
Total other assets 28,022,347 26,850,566
Total assets 67,927,365 67,511,087
CURRENT LIABILITIES:    
Accounts payable 4,118,636 4,505,531
Income taxes payable 60,307 6,759
Accrued liabilities:    
Payroll and related benefits 1,130,175 1,857,971
Other 1,101,408 1,471,532
Current portion of operating lease 295,856
Total current liabilities 6,706,382 7,841,793
LONG-TERM LIABILITIES:    
Long-term operating lease obligations 302,928
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 November 30, 2019 and August 31, 2019; issued and outstanding 9,097,236 and 9,086,816, respectively 181,945 181,736
Additional paid-in capital 16,367,555 16,013,338
Retained earnings 45,614,390 44,992,719
Accumulated other comprehensive loss (4,490,364) (4,593,178)
Stockholders’ equity 57,673,526 56,594,615
Non-controlling interests 3,244,529 3,074,679
Total equity 60,918,055 59,669,294
Total liabilities and equity $ 67,927,365 $ 67,511,087