XML 29 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Aug. 31, 2013
Aug. 31, 2012
Cash flows from operating activities    
Net income $ 2,886,598 $ 3,027,884
Adjustments to reconcile net income to net cash provided by operating activities    
(Income)/Loss from Discontinued Operations 0 (215,922)
Depreciation and amortization of property and equipment 42,573 41,802
Amortization of customer relationships 0 1,871
Amortization of capitalized computer software development costs 716,887 668,021
Amortization of Intellectual property 7,500 3,750
Excess tax benefits from share-based arrangements (70,806) 22,091
Stock-based compensation 115,740 127,738
(Gain)/Loss from sale of assets 0 433
Deferred income taxes 366,986 207,617
(Increase) decrease in    
Accounts receivable and Contracts receivable (643,771) (114,080)
Prepaid income taxes (147,677) 105,538
Prepaid expenses and other assets (41,317) (26,903)
Accounts payable (31,498) 1,372
Accrued payroll and other expenses (1,703) 28,798
Accrued Bonus 0 60,000
Accrued income taxes (662,427) 542,245
Other liabilities 67,852 0
Deferred revenue (42,555) (9,409)
Net cash provided by operating activities of continuing operations 2,562,382 4,472,846
Net cash provided by (used in) operating activities of discontinued operations 0 (688,862)
Net cash provided by operating activities 2,562,382 3,783,984
Cash flows from investing activities    
Proceeds from sale of Words+, Inc. 0 1,973,096
Proceeds from sale of assets 0 200
Purchases of property and equipment (53,150) (106,835)
Purchase of royalty 0 (75,000)
Capitalized computer software development costs (1,128,588) (958,507)
Net cash provided by (used in) investing activities of continuing operations (1,181,738) 832,954
Net cash provided by (used in) investing activities of discontinued operations 0 6,532
Net cash provided by (used in) investing activities (1,181,738) 839,486
Cash flows from financing activities    
Exess tax benefits from share-based arrangements 70,806 (22,091)
Dividends (4,001,212) (2,382,994)
Proceeds from the exercise of stock options 27,985 301,641
Net cash (used in) financing activities of continuing operations (3,902,421) (2,103,444)
Net increase (decrease) in cash and cash equivalents from continuing operations (2,521,777) 3,202,356
Net (decrease) in cash and cash equivalents from discontinued operations 0 (682,330)
Net increase (decrease) in cash and cash equivalents (2,521,777) 2,520,026
Cash and cash equivalents, beginning of year 12,701,075 10,181,049
Cash and cash equivalents, end of period 10,179,298 12,701,075
Supplemental disclosures of cash flow information    
Interest paid 0 3
Income taxes paid $ 1,964,545 $ 457,000