XML 13 R2.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2024
Aug. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 5,794,824 $ 5,406,173
Receivables:    
Trade, excluding joint ventures, less allowance for doubtful accounts of $533,000 as of May 31, 2024 and August 31, 2023 14,374,856 15,645,130
Trade, joint ventures 594,331 187,912
Fees for services provided to joint ventures 1,262,153 1,296,594
Dividend receivable from joint venture 0 1,986,027
Income taxes 463,828 34,202
Inventories 13,242,381 13,096,489
Prepaid expenses 2,170,896 2,019,029
Total current assets 37,903,269 39,671,556
PROPERTY AND EQUIPMENT, NET 15,678,572 14,065,354
OTHER ASSETS:    
Investments in joint ventures 24,219,348 23,705,714
Deferred income tax, net 570,673 530,944
Intangible asset, net 5,802,438 6,159,485
Goodwill 4,782,376 4,782,376
Operating lease right of use assets 308,868 428,874
Total other assets 35,683,703 35,607,393
Total assets 89,265,544 89,344,303
CURRENT LIABILITIES:    
Line of credit 1,988,380 3,600,000
Term loan 2,762,049 2,757,176
Accounts payable 6,273,261 6,056,329
Income taxes payable 17,579 13,053
Accrued liabilities:    
Payroll and related benefits 2,216,767 2,305,400
Other 1,289,106 1,648,615
Current portion of operating leases 247,291 340,799
Total current liabilities 14,794,433 16,721,372
LONG-TERM LIABILITIES:    
Deferred income tax, net 1,836,059 1,836,059
Operating leases, less current portion 61,577 88,075
Total long-term liabilities 1,897,636 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 May 31, 2024 and August 31, 2023; issued and outstanding 9,441,124 and 9,424,101, respectively 188,823 188,482
Additional paid-in capital 23,104,415 21,986,767
Retained earnings 52,596,976 51,004,427
Accumulated other comprehensive loss (7,038,745) (6,823,403)
Stockholders’ equity 68,851,469 66,356,273
Non-controlling interests 3,722,006 4,342,524
Total equity 72,573,475 70,698,797
Total liabilities and equity 89,265,544 89,344,303
Intangible Assets Excluding Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible asset, net $ 5,802,438 $ 6,159,485