v3.20.2
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
|
|
|
| CURRENT ASSETS: |
|
|
| Cash and cash equivalents |
$ 5,050,722
|
$ 5,856,758
|
| Available for sale securities |
5,450,693
|
3,565,258
|
| Receivables: |
|
|
| Trade excluding joint ventures, less allowance for doubtful accounts of $65,000 at May 31, 2020 and August 31, 2019 |
7,544,886
|
9,779,518
|
| Trade joint ventures |
857,377
|
824,473
|
| Fees for services provided to joint ventures |
876,120
|
1,268,000
|
| Income taxes |
48,861
|
457,018
|
| Inventories |
12,080,765
|
10,488,728
|
| Prepaid expenses |
696,010
|
1,062,609
|
| Total current assets |
32,605,434
|
33,302,362
|
| PROPERTY AND EQUIPMENT, NET |
6,963,968
|
7,358,159
|
| OTHER ASSETS: |
|
|
| Investments in joint ventures |
21,942,063
|
24,207,339
|
| Deferred income taxes |
1,728,946
|
1,634,258
|
| Patents and trademarks, net |
839,535
|
1,008,969
|
| Operating lease right of use asset |
451,188
|
|
| Total other assets |
24,961,732
|
26,850,566
|
| Total assets |
64,531,134
|
67,511,087
|
| CURRENT LIABILITIES: |
|
|
| Accounts payable |
2,348,016
|
4,505,531
|
| Income taxes payable |
43,580
|
6,759
|
| Accrued liabilities: |
|
|
| Payroll and related benefits |
1,132,918
|
1,857,971
|
| Other |
809,028
|
1,471,532
|
| Current portion of operating lease |
136,714
|
|
| Total current liabilities |
4,470,256
|
7,841,793
|
| LONG-TERM LIABILITIES: |
|
|
| Operating lease, less current portion |
314,474
|
|
| Total long-term liabilities |
314,474
|
|
| COMMITMENTS AND CONTINGENCIES (Note 12) |
|
|
| EQUITY: |
|
|
| Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding |
|
|
| Common stock, $0.02 par value per share; authorized 15,000,000 shares as of May 31, 2020 and August 31, 2019; issued and outstanding 9,099,990 and 9,086,816, respectively |
182,000
|
181,736
|
| Additional paid-in capital |
17,075,391
|
16,013,338
|
| Retained earnings |
44,237,682
|
44,992,719
|
| Accumulated other comprehensive loss |
(4,829,337)
|
(4,593,178)
|
| Stockholders’ equity |
56,665,736
|
56,594,615
|
| Non-controlling interests |
3,080,668
|
3,074,679
|
| Total equity |
59,746,404
|
59,669,294
|
| Total liabilities and equity |
$ 64,531,134
|
$ 67,511,087
|
| X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets, excluding property, plant, and equipment that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.
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| X |
- DefinitionRepresents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.
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