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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Feb. 28, 2023
Aug. 31, 2022
Current assets    
Cash and cash equivalents $ 268,389 $ 484,463
Accounts receivable, net of allowance of $0 (August 31, 2022 - $0) 4,261,256 7,191,646
Inventory, net of allowance of $449,707 (August 31, 2022 - $800,000) (note 3) 23,079,647 20,632,313
Prepaid expenses 794,566 1,112,575
Prepaid income taxes 208,138 208,963
Total current assets 28,611,996 29,629,960
Property, plant and equipment, net (note 4) 4,931,022 4,828,420
Intangible assets, net (note 5) 32,822 33,358
Deferred tax assets (note 6) 397,990 24,998
Total assets 33,973,830 34,516,736
Current liabilities    
Accounts payable 710,174 1,566,047
Bank indebtedness (note 7) 8,500,000 7,000,000
Accrued liabilities 1,691,501 1,856,039
Total liabilities 10,901,675 10,422,086
Stockholders’ equity    
Capital stock (note 8, 9) Authorized    21,567,564 common shares, no par value    10,000,000 preferred shares, no par value Issued    3,498,899 common shares (August 31, 2022 –3,495,342) 825,468 824,629
Additional paid-in capital 765,055 742,591
Retained earnings 21,481,632 22,527,430
Total stockholders’ equity 23,072,155 24,094,650
Total liabilities and stockholders’ equity $ 33,973,830 $ 34,516,736