XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Feb. 29, 2024
Feb. 28, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME $ 2,953,469 $ 1,153,748
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 694,874 667,008
Depreciation expense 597,403 488,838
Amortization expense 295,226 294,873
Loss on disposable of assets 0 (8,534)
Equity in income from joint ventures (2,280,231) (2,318,135)
Dividends received from joint ventures 2,391,251 3,464,736
Deferred income taxes (28,088) 70,166
Changes in current assets and liabilities:    
Trade, excluding joint ventures 900,127 (338,014)
Trade, joint ventures (704,017) (917,073)
Fees for services provided to joint ventures 68,883 656,210
Dividends receivable from joint venture 1,986,027 0
Income taxes (475,514) (313,270)
Inventories 568,467 996,522
Prepaid expenses and other (551,739) 259,712
Accounts payable 417,650 (1,293,897)
Income tax payable 789 (29,503)
Accrued liabilities (1,247,746) (488,221)
Net cash provided by operating activities 5,643,007 2,204,834
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of available for sale securities 0 5,590
Proceeds from sale of property and equipment 0 13,000
Purchases of property and equipment (1,443,762) (1,871,903)
Investments in patents (62,165) (70,023)
Net cash used in investing activities (1,505,927) (1,923,336)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (payments) proceeds from line of credit (2,407,355) 1,200,000
Dividends paid on NTIC common stock (1,319,866) (1,311,290)
Proceeds from the exercise of stock options 0 416,563
Dividends received by non-controlling interest (1,075,076) (455,574)
Proceeds from employee stock purchase plan 40,096 38,696
Net cash used in financing activities (4,762,201) (111,605)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 53,978 (52,672)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (571,143) 117,221
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,406,174 5,333,890
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 4,835,031 $ 5,451,111