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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2021
Aug. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 5,880,923 $ 6,403,032
Available for sale securities 5,125,052 5,544,722
Receivables:    
Trade, excluding joint ventures, less allowance for doubtful accounts of $120,000 at May 31, 2021 and $90,000 at August 31, 2020 11,165,605 8,072,212
Trade, joint ventures 1,040,049 475,900
Fees for services provided to joint ventures 1,427,240 927,286
Income taxes 247,895 19,907
Inventories 11,306,598 10,961,796
Prepaid expenses 1,035,046 797,495
Total current assets 37,228,408 33,202,350
PROPERTY AND EQUIPMENT, NET 7,177,012 7,110,789
OTHER ASSETS:    
Investments in joint ventures 26,937,857 24,090,826
Deferred income taxes 223,739 209,729
Patents and trademarks, net 746,305 802,006
Operating lease right of use asset 486,854 658,788
Total other assets 28,394,755 25,761,349
Total assets 72,800,175 66,074,488
CURRENT LIABILITIES:    
Accounts payable 4,103,932 3,205,241
Income taxes payable 166,574 310,922
Accrued liabilities:    
Payroll and related benefits 2,295,421 1,314,978
Other 873,280 880,118
Current portion of operating lease 113,688 386,345
Total current liabilities 7,552,895 6,097,604
LONG-TERM LIABILITIES:    
Operating lease, less current portion 373,166 272,443
Total long-term liabilities 373,166 272,443
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 15,000,000 shares as of May 31, 2021 and August 31, 2020; issued and outstanding 9,109,861 and 9,099,990, respectively 182,197 182,000
Additional paid-in capital 17,992,518 17,415,043
Retained earnings 45,917,757 42,472,810
Accumulated other comprehensive loss (2,717,935) (3,410,438)
Stockholders’ equity 61,374,537 56,659,415
Non-controlling interests 3,499,577 3,045,026
Total equity 64,874,114 59,704,441
Total liabilities and equity $ 72,800,175 $ 66,074,488