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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Feb. 28, 2023
Feb. 28, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME $ 1,153,748 $ 5,017,818
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 667,008 465,766
Depreciation expense 488,838 430,991
Amortization expense 294,873 315,631
Remeasurement gain on acquisition of equity method investee 0 (3,951,550)
Loss on disposal of assets (8,534) 0
Equity in income from joint ventures (2,318,135) (2,297,581)
Dividends received from joint ventures 3,464,736 5,362,636
Deferred income taxes (70,166) 139,338
Changes in current assets and liabilities:    
Trade, excluding joint ventures (338,014) 321,322
Trade, joint ventures (917,073) (281,153)
Fees for services provided to joint ventures 656,210 426,425
Income taxes (313,270) (286,458)
Inventories 996,522 (990,628)
Prepaid expenses and other 259,712 (1,136,130)
Accounts payable (1,293,897) 674,147
Income tax payable (29,503) (376,544)
Accrued liabilities (488,221) (1,715,302)
Net cash provided by operating activities 2,204,834 2,118,728
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of Zerust India business, net of cash acquired 0 (5,062,003)
Proceeds from the sale of available for sale securities 5,590 0
Proceeds from sale of property and equipment 13,000 0
Purchases of property and equipment (1,871,903) (618,533)
Investments in patents (70,023) (112,297)
Net cash used in investing activities (1,923,336) (5,792,833)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from line of credit 1,200,000 4,200,000
Dividends paid on NTIC common stock (1,311,290) (1,288,632)
Proceeds from the exercise of stock options 416,563 139,200
Dividends received by non-controlling interest (455,574) (302,729)
Proceeds from employee stock purchase plan 38,696 38,532
Net cash (used in) provided by financing activities (111,605) 2,786,371
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (52,672) 694,904
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 117,221 (192,830)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,333,890 7,680,641
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 5,451,111 $ 7,487,811