XML 17 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Aug. 31, 2022
Aug. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 5,333,890 $ 7,680,641
Available for sale securities 5,590 4,634
Receivables:    
Trade excluding joint ventures, less allowance for doubtful accounts of $439,000 as of August 31, 2022 and $382,000 as of August 31, 2021 14,136,930 11,128,805
Trade, joint ventures 697,861 624,808
Fees for services provided to joint ventures 1,765,117 1,505,127
Income taxes 0 386,574
Inventories 16,341,729 11,114,207
Prepaid expenses 1,953,764 1,302,293
Total current assets 40,234,881 33,747,089
PROPERTY AND EQUIPMENT, NET 12,170,493 11,821,458
OTHER ASSETS:    
Investments in joint ventures 21,814,754 27,623,768
Deferred income taxes 0 92,554
Goodwill 4,782,376 0
Operating lease right of use assets 557,571 376,438
Total other assets 33,788,579 28,802,332
Total assets 86,193,953 74,370,879
CURRENT LIABILITIES:    
Accounts payable 7,796,494 4,290,972
Line of credit 5,900,000 0
Income taxes payable 30,742 178,923
Accrued liabilities:    
Payroll and related benefits 2,297,543 2,879,468
Other 667,292 894,497
Current portion of operating lease 373,330 272,336
Total current liabilities 17,065,401 8,516,196
LONG-TERM LIABILITIES:    
Deferred income tax, net 1,700,015 0
Operating lease, less current portion 184,241 104,102
Total long-term liabilities 1,884,256 104,102
COMMITMENTS AND CONTINGENCIES (Note 17)
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 August 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 19,939,131 18,736,268
Retained earnings 50,716,613 46,973,092
Accumulated other comprehensive loss (7,245,132) (3,525,030)
Stockholders’ equity 63,595,262 62,368,026
Non-controlling interests 3,649,034 3,382,555
Total equity 67,244,296 65,750,581
Total liabilities and equity 86,193,953 74,370,879
Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible assets, net 710,011 709,572
Intangible Assets Excluding Patents and Trademarks [Member]    
OTHER ASSETS:    
Intangible assets, net $ 5,923,867 $ 0