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Note 16 - Income Taxes (Tables)

12 Months Ended

Aug. 31, 2022

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Fiscal Year Ended August 31,
		2022				2021
Current:
Federal		$	—			$	—
State			98,000				39,000
Foreign			1,894,000				1,307,000
			1,992,000				1,346,000
Deferred:
Federal			—				—
State			—				—
Foreign			(118,164	)			115,905
			(118,164	)			115,905
		$	1,873,836			$	1,461,905

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Fiscal Year Ended August 31,
		2022				2021
Tax computed at statutory rates		$	1,780,000			$	1,794,000
State income tax, net of federal benefit			34,000				37,000
Tax effect on equity in income of international joint ventures			(988,000	)			(1,560,000	)
Tax effect of foreign operations			1,004,000				839,000
Deemed repatriation			10,000				—
Expired foreign tax credit			—				897,000
Research and development credit			(244,000	)			(277,000	)
Valuation allowance			133,000				(492,000	)
Stock based compensation			67,000				75,000
Non-controlling interest			(72,000	)			(83,000	)
Other			149,836				231,905
		$	1,873,836			$	1,461,905

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		August 31,
		2022				2021
Accrued compensation		$	329,100			$	539,300
Inventory costs			93,900				55,100
Other accrued expenses			84,800				103,100
Lease liability			98,300				84,300
Goodwill and other intangible assets			398,600				453,000
Stock-based compensation			547,200				466,300
Property and equipment			9,100				—
Foreign tax credit carryforward			4,892,100				4,893,300
Other credit and loss carryforward			5,455,500				5,243,100
Other			23,000				—
Total deferred tax assets			11,931,600				11,837,500
Valuation allowance			(11,592,900	)			(11,447,500	)
Total deferred tax assets after valuation allowance			338,700				390,000
Property and equipment			—				(7,300	)
Right-of-use asset			(98,300	)			(84,300	)
Intangible assets			(1,777,200	)			—
Unremitted foreign earnings			(163,200	)			(154,900	)
Other			—				(50,900	)
Total deferred tax liabilities			(2,038,700	)			(297,400	)
Net deferred tax assets		$	(1,700,000	)		$	92,600

Summary of Income Tax Contingencies [Table Text Block]

		Fiscal Year Ended August 31,
		2022				2021
Gross unrecognized tax benefits – beginning balance		$	297,600			$	278,200
Gross increases – prior period tax positions			3,400				4,400
Gross increases – current period tax positions			18,000				15,000
Gross unrecognized tax benefits – ending balance		$	319,000			$	297,600

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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