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Note 3 - Business Combination (Tables) | 9 Months Ended
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May 31, 2022
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 liability |  |  | (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 |

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