XML 16 R2.htm IDEA: XBRL DOCUMENT v3.24.4
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Nov. 30, 2024
Aug. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 5,569,834 $ 4,952,184
Receivables:    
Trade, less allowance for credit losses of $310,000 as of November 30, 2024 and August 31, 2024 16,081,710 19,187,079
Fees for services provided to joint ventures 1,170,328 1,235,016
Income taxes 688,806 392,293
Inventories, net 14,337,384 14,390,844
Prepaid expenses 2,454,288 1,421,803
Total current assets 40,302,350 41,579,219
PROPERTY AND EQUIPMENT, NET 17,053,239 16,265,653
OTHER ASSETS:    
Investments in joint ventures 25,492,921 25,397,287
Deferred income tax, net 508,495 544,464
Intangible assets, net 5,573,945 5,682,945
Goodwill 4,782,376 4,782,376
Operating lease right of use assets 324,329 424,558
Total other assets 36,682,066 36,831,630
Total assets 94,037,655 94,676,502
CURRENT LIABILITIES:    
Line of credit 4,518,734 4,291,608
Term loan 2,761,592 2,820,835
Accounts payable 6,559,744 6,393,355
Income taxes payable 256,849 327,781
Accrued liabilities:    
Payroll and related benefits 2,710,181 3,163,372
Other 1,094,381 574,876
Current portion of operating leases 217,441 325,116
Total current liabilities 18,118,922 17,896,943
LONG-TERM LIABILITIES:    
Deferred income tax, net 1,504,796 1,504,796
Operating leases, less current portion 106,888 99,442
Total long-term liabilities 1,611,684 1,604,238
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 November 30, 2024 and August 31, 2024; issued and outstanding 9,470,507 and 9,466,976, respectively 189,410 189,340
Additional paid-in capital 23,999,854 23,615,564
Retained earnings 53,669,366 53,771,211
Accumulated other comprehensive loss (7,645,298) (6,382,124)
Stockholders’ equity 70,213,332 71,193,991
Non-controlling interests 4,093,717 3,981,330
Total equity 74,307,049 75,175,321
Total liabilities and equity 94,037,655 94,676,502
Intangible Assets Excluding Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible assets, net $ 5,573,945 $ 5,682,945