Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
|
May 31, 2022 |
Aug. 31, 2021 |
| CURRENT ASSETS: |
|
|
| Cash and cash equivalents |
$ 6,123,269
|
$ 7,680,641
|
| Available for sale securities |
5,574
|
4,634
|
| Receivables: |
|
|
| Trade, excluding joint ventures, less allowance for doubtful accounts of $382,000 as of May 31, 2022 and August 31, 2021 |
13,834,580
|
11,128,805
|
| Trade, joint ventures |
857,172
|
624,808
|
| Fees for services provided to joint ventures |
1,243,214
|
1,505,127
|
| Income taxes |
418,967
|
386,574
|
| Inventories |
13,866,229
|
11,114,207
|
| Prepaid expenses |
2,619,260
|
1,302,293
|
| Total current assets |
38,968,265
|
33,747,089
|
| PROPERTY AND EQUIPMENT, NET |
12,071,277
|
11,821,458
|
| OTHER ASSETS: |
|
|
| Investments in joint ventures |
22,194,433
|
27,623,768
|
| Deferred income taxes |
0
|
92,554
|
| Goodwill |
4,782,376
|
0
|
| Operating lease right of use asset |
421,601
|
376,438
|
| Total other assets |
34,145,855
|
28,802,332
|
| Total assets |
85,185,397
|
74,370,879
|
| CURRENT LIABILITIES: |
|
|
| Accounts payable |
6,004,897
|
4,290,972
|
| Line of credit |
4,700,000
|
0
|
| Income taxes payable |
99,865
|
178,923
|
| Accrued liabilities: |
|
|
| Payroll and related benefits |
2,029,241
|
2,879,468
|
| Other |
1,333,153
|
894,497
|
| Current portion of operating lease |
74,331
|
272,336
|
| Total current liabilities |
14,241,487
|
8,516,196
|
| LONG-TERM LIABILITIES: |
|
|
| Deferred income tax, net |
1,920,970
|
0
|
| Operating lease, less current portion |
347,270
|
104,102
|
| Total long-term liabilities |
2,268,240
|
104,102
|
| COMMITMENTS AND CONTINGENCIES (Note 14) |
|
|
| 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 May 31, 2022 and August 31, 2021; issued and outstanding 9,232,483 and 9,184,811, respectively |
184,650
|
183,696
|
| Additional paid-in capital |
19,706,248
|
18,736,268
|
| Retained earnings |
50,714,961
|
46,973,094
|
| Accumulated other comprehensive loss |
(5,383,400)
|
(3,525,030)
|
| Stockholders’ equity |
65,222,459
|
62,368,028
|
| Non-controlling interests |
3,453,211
|
3,382,553
|
| Total equity |
68,675,670
|
65,750,581
|
| Total liabilities and equity |
85,185,397
|
74,370,879
|
| Patents and Trademarks [Member] |
|
|
| OTHER ASSETS: |
|
|
| Intangible assets, net |
717,795
|
709,572
|
| Intangible Assets Excluding Patents and Trademarks [Member] |
|
|
| OTHER ASSETS: |
|
|
| Intangible assets, net |
$ 6,029,650
|
$ 0
|