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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Feb. 29, 2024
Aug. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 4,835,031 $ 5,406,173
Receivables:    
Trade, excluding joint ventures, less allowance for doubtful accounts of $533,000 as of February 29, 2024 and August 31, 2023 14,800,592 15,645,130
Trade, joint ventures 891,929 187,912
Fees for services provided to joint ventures 1,227,711 1,296,594
Dividend receivable from joint venture 509,716 1,986,027
Income taxes 0 34,202
Inventories 12,538,859 13,096,489
Prepaid expenses 2,529,476 2,019,029
Total current assets 37,333,314 39,671,556
PROPERTY AND EQUIPMENT, NET 14,963,186 14,065,354
OTHER ASSETS:    
Investments in joint ventures 23,460,869 23,705,714
Deferred income tax, net 504,913 530,944
Intangible asset, net 5,926,423 6,159,485
Goodwill 4,782,376 4,782,376
Operating lease right of use assets 336,169 428,874
Total other assets 35,010,750 35,607,393
Total assets 87,307,250 89,344,303
CURRENT LIABILITIES:    
Line of credit 1,192,645 3,600,000
Term loan 2,782,686 2,757,176
Accounts payable 6,487,718 6,056,329
Income taxes payable 13,798 13,053
Accrued liabilities:    
Payroll and related benefits 1,425,274 2,305,400
Other 1,284,894 1,648,615
Current portion of operating leases 170,840 340,799
Total current liabilities 13,357,855 16,721,372
LONG-TERM LIABILITIES:    
Deferred income tax, net 1,836,059 1,836,059
Operating leases, less current portion 165,329 88,075
Total long-term liabilities 2,001,388 1,924,134
Commitments and Contingencies  
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 February 29, 2024 and August 31, 2023; issued and outstanding 9,427,598 and 9,424,101, respectively 188,552 188,482
Additional paid-in capital 22,721,667 21,986,767
Retained earnings 52,281,250 51,004,427
Accumulated other comprehensive loss (6,838,890) (6,823,403)
Stockholders’ equity 68,352,579 66,356,273
Non-controlling interests 3,595,428 4,342,524
Total equity 71,948,007 70,698,797
Total liabilities and equity 87,307,250 89,344,303
Intangible Assets Excluding Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible asset, net $ 5,926,423 $ 6,159,485