Note 6. Related Party Transactions

6 Months Ended

Feb. 28, 2014

Notes

Note 6. Related Party Transactions

Note 6.   Related Party Transactions

During the three months ended February 28, 2014 and February 28, 2013, we had sales of $1,748 and $6,275, respectively, to entities controlled by a significant stockholder and member of the Board of Directors.  These related party transactions represent approximately 0.1% and 0.8% of total sales for each respective three-month period.  During the six months ended February 28, 2014 and February 28, 2013, we had sales of $18,434 and $76,546 to these related parties, representing approximately 0.6% and 5.2% of total sales for each respective six-month period. 

As of February 28, 2014 and August 31, 2013, our accounts receivable included $5,026 and $24,201, respectively, from these related parties.  Also, included in customer deposits as of February 28, 2014 and August 31, 2013, was $159,980 towards the purchase of a hypothermia system from this same related party.