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Note 3 - Business Combination (Tables)

3 Months Ended

Nov. 30, 2021

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Cash and cash equivalents		$	1,187,997
Trade account receivable			1,954,769
Inventories			886,650
Prepaid expenses and other			396,545
Property, plant and equipment			219,077
Operating lease, right of use asset			355,000
Customer relationships			6,347,000
Goodwill			4,782,376
Current liabilities			(1,370,314	)
Deferred tax liability			(1,904,100	)
Operating lease			(355,000	)
Net assets acquired		$	12,500,000
Less:
Fair value of previously held equity method investment			(1,637,362	)
Cumulative foreign currency translation			(661,088	)
Gain recognized on acquisition			(3,951,550	)
			(6,250,000	)
Cash paid for acquisition		$	6,250,000

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
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