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Bank Guarantees
3 Months Ended
Nov. 30, 2012
Notes to Financial Statements  
Bank Guarantees

NOTE 9: BANK GUARANTEES

 

As of November 30, 2012, $110,000 of the Company’s cash on deposit with a foreign bank was being utilized to collateralize guarantees issued by the bank in favor of international customers of the Company to secure their cash deposits on orders that have been remitted to the Company.  The customers may exercise the guarantees, subject to certain performance requirements being met by the Company.  The guarantees expire at various dates in 2013.