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Note 5 - Property and Equipment, Net
 6 Months Ended
Feb. 28, 2025
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

5.

PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net consisted of the following:

 

   

February 28, 2025

    

August 31, 2024

  

Land

   $ 1,238,180     $ 1,238,180  

Buildings and improvements

     16,527,616       14,760,250  

Assets in process

     477,152       3,086,479  

Machinery and equipment

     7,030,897       7,276,151  
      25,273,845       26,361,060  

Less accumulated depreciation

     (10,459,456 )     (10,095,407 )
    $ 14,814,389     $ 16,265,653  

 

 

Depreciation expense was $251,230 and $518,385 for the three and six months ended February 28, 2025, respectively, compared to $290,393 and $597,403 for the three and six months ended February 29, 2024, respectively.

 

Assets in process includes capitalized software costs incurred until the capitalized software is placed in service. Once placed in service, these costs are reclassed to intangible assets, net in the consolidated balance sheet.