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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Feb. 28, 2022
Aug. 31, 2021
Current assets    
Cash and cash equivalents $ 899,055 $ 1,184,313
Accounts receivable, net of allowance of $Nil 0 (August 31, 2021 - $0) 9,137,254 7,086,503
Inventory, net of allowance of $250,000 (August 31, 2021 - $250,000) (note 3) 18,630,148 14,391,365
Prepaid expenses 2,559,893 2,305,820
Prepaid income taxes 258,205 252,958
Total current assets 31,484,555 25,220,959
Property, plant and equipment, net (note 4) 4,638,238 3,886,543
Intangible assets, net (note 5) 33,894 30,897
Total assets 36,156,687 29,138,399
Current liabilities    
Accounts payable 1,660,664 1,349,677
Bank indebtedness (note 7) 9,500,000 3,000,000
Accrued liabilities 2,078,436 1,798,088
Total current liabilities 13,239,100 6,147,765
Deferred tax liability (note 6) 125,834 116,945
Total liabilities 13,364,934 6,264,710
Stockholders’ equity    
3,492,842 common shares (August 31, 2021 –3,489,161) 824,039 823,171
Additional paid-in capital 725,729 687,211
Retained earnings 21,241,985 21,363,307
Total stockholders’ equity 22,791,753 22,873,689
Total liabilities and stockholders’ equity $ 36,156,687 $ 29,138,399