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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
May. 31, 2015
Aug. 31, 2014
Current assets    
Cash and cash equivalents $ 6,428,596 $ 8,614,929
Accounts receivable, net of allowance for doubtful accounts of $0 3,990,467 1,708,158
Revenues in excess of billings 924,793 158,914
Prepaid income taxes 0 748,359
Prepaid expenses and other current assets 269,776 188,160
Deferred income taxes 209,705 114,846
Total current assets 11,823,337 11,533,366
Long-term assets    
Capitalized computer software development costs, net of accumulated amortization of $7,358,012 and $6,609,283 3,880,162 3,452,541
Property and equipment, net (note 3) 420,629 95,242
Intellectual property, net of accumulated amortization of $649,375 and $193,750 5,425,625 5,881,250
Other intangible assets net of accumulated amortization of $110,625 1,539,375 0
Goodwill 4,789,248 0
Other assets 34,082 18,445
Total assets 27,912,458 20,980,844
Current liabilities    
Accounts payable 133,126 130,547
Accrued payroll and other expenses 427,750 340,709
Accrued bonuses to officer 72,000 120,000
Income taxes payable 178,894 0
Other current liabilities 19,859 19,859
Current portion - Contract payable (note 4) 750,000 750,000
Billings in excess of revenues 93,122 0
Deferred revenue 42,168 30,370
Total current liabilities 1,716,919 1,391,485
Long-term liabilities    
Deferred income taxes 3,510,899 2,375,874
Payments due under Contract payable (note 4) 2,854,404 1,750,000
Other long-term liabilities 13,239 28,134
Total liabilities $ 8,095,461 $ 5,545,493
Commitments and contingencies (note 5)    
Shareholders' equity (note 6)    
Preferred stock, $0.001 par value 10,000,000 shares authorized no shares issued and outstanding $ 0 $ 0
Common stock, $0.001 par value 50,000,000 shares authorized 16,887,117 and 16,349,955 shares issued and outstanding 5,358 4,821
Additional paid-in capital 9,643,394 6,085,427
Retained earnings 10,168,245 9,345,103
Total shareholders' equity 19,816,997 15,435,351
Total liabilities and shareholders' equity $ 27,912,458 $ 20,980,844