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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2020
Aug. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 5,050,722 $ 5,856,758
Available for sale securities 5,450,693 3,565,258
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $65,000 at May 31, 2020 and August 31, 2019 7,544,886 9,779,518
Trade joint ventures 857,377 824,473
Fees for services provided to joint ventures 876,120 1,268,000
Income taxes 48,861 457,018
Inventories 12,080,765 10,488,728
Prepaid expenses 696,010 1,062,609
Total current assets 32,605,434 33,302,362
PROPERTY AND EQUIPMENT, NET 6,963,968 7,358,159
OTHER ASSETS:    
Investments in joint ventures 21,942,063 24,207,339
Deferred income taxes 1,728,946 1,634,258
Patents and trademarks, net 839,535 1,008,969
Operating lease right of use asset 451,188
Total other assets 24,961,732 26,850,566
Total assets 64,531,134 67,511,087
CURRENT LIABILITIES:    
Accounts payable 2,348,016 4,505,531
Income taxes payable 43,580 6,759
Accrued liabilities:    
Payroll and related benefits 1,132,918 1,857,971
Other 809,028 1,471,532
Current portion of operating lease 136,714
Total current liabilities 4,470,256 7,841,793
LONG-TERM LIABILITIES:    
Operating lease, less current portion 314,474
Total long-term liabilities 314,474
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, 2020 and August 31, 2019; issued and outstanding 9,099,990 and 9,086,816, respectively 182,000 181,736
Additional paid-in capital 17,075,391 16,013,338
Retained earnings 44,237,682 44,992,719
Accumulated other comprehensive loss (4,829,337) (4,593,178)
Stockholders’ equity 56,665,736 56,594,615
Non-controlling interests 3,080,668 3,074,679
Total equity 59,746,404 59,669,294
Total liabilities and equity $ 64,531,134 $ 67,511,087