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Note 18 - Subsequent Events | 12 Months Ended
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Aug. 31, 2021
Notes to Financial Statements |
Subsequent Events [Text Block] | 18. SUBSEQUENT EVENTS On October 20, 2021, NTIC’s Board of Directors declared a cash dividend of $0.07 per share of NTIC’s common stock, payable on November 17, 2021 to stockholders of record on November 3, 2021. Although NTIC’s Board of Directors intends to declare regular quarterly cash dividends going forward, the payment of any future dividends will be determined by NTIC’s Board of Directors in light of conditions then existing, including NTIC’s earnings, financial condition, cash requirements, restrictions in financing agreements, business conditions, and other factors, including without limitation the effect of COVID-19 on its business, operating results, and financial condition. On September 21, 2021, the Company announced that it acquired the remaining 50% ownership interest in its Indian joint venture, Harita-NTI Limited, for USD $6.25 million in cash, effective as of September 1, 2021. This purchase was funded with cash available from existing operations. Also on September 21, 2021, the Company and PNC Bank entered into an Amended and Restated Loan Agreement and Amended and Restated Security Agreement relating to the Company’s revolving line of credit with PNC Bank and the Company issued an amended and restated promissory note thereunder, in each case effective as of August 31, 2021, which together increased the line of credit from $3.0 million to $5.0 million, extended the maturity date to February 22, 2022 and revised the rate at which amounts outstanding under the line of credit bear interest to equal a per annum rate equal to the daily LIBOR plus 250 basis points (2.50%). The other material terms of the line of credit, Amended and Restated Loan Agreement and Amended and Restated Security Agreement with PNC Bank and other related documents were not affected by these amendments.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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