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Note 1 - Interim Financial Information | 3 Months Ended
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Nov. 30, 2024
Notes to Financial Statements |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
1. | INTERIM FINANCIAL INFORMATION
In the opinion of management, the accompanying unaudited consolidated financial statements contain all necessary adjustments, which are of a normal recurring nature, and present fairly the consolidated financial position of Northern Technologies International Corporation and its subsidiaries (the Company) as of November 30, 2024 and August 31, 2024, the results of the Company’s operations for the three months ended November 30, 2024 and 2023, the changes in stockholders’ equity for the three months ended November 30, 2024 and 2023 and the Company’s cash flows for the three months ended November 30, 2024 and 2023, in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s annual report on Form 10-K for the fiscal year ended August 31, 2024. These consolidated financial statements also should be read in conjunction with the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section appearing in this report. Operating results for the three months ended November 30, 2024 are not necessarily indicative of the results that may be expected for the full fiscal year ending August 31, 2025. Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. An adjustment has been made to the Consolidated Statements of Cash Flows for the three months ended November 30, 2023 to reclassify joint venture receivables, tax receivables and tax payables. The Company evaluates events occurring after the date of the consolidated financial statements, through the date the consolidated financial statements were available to be issued, requiring recording or disclosure in the consolidated financial statements.

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