11. ACQUISITION/MERGER WITH COGNIGEN CORPORATION (Tables)

9 Months Ended

May. 31, 2015

Business Combinations [Abstract]

Total consideration paid for acquisition

Assets acquired, including accounts receivable of $934,000 and estimated Contracts receivable of $530,000	$	1,524,389
Fixed assets acquired		458,351
Estimated value of software acquired		200,000
Estimated value of Intangibles acquired (Customer Lists, trade name etc.)		1,600,000
Working Capital Adjustment		(26,707	)
Current Liabilities assumed		(644,499	)
Goodwill		4,789,248
Estimated Deferred income taxes		(662,500	)
Total Consideration	$	7,238,282

Pro forma information

	For the three months ended May 31 (in 1000’s)				For the nine months ended May 31 (in 1000’s)
	2015		2014		2015		2014
Net Sales	$	5,942	$	5,073	$	14,602	$	13,116
Net Income	$	1,852	$	1,506	$	3,352	$	2,543