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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
May 31, 2016
Aug. 31, 2015
Current assets    
Cash and cash equivalents $ 7,279,683 $ 8,551,275
Accounts receivable, net of allowance for doubtful accounts of $0 4,582,573 1,593,707
Revenues in excess of billings 1,039,897 795,125
Prepaid income taxes 108,690 0
Prepaid expenses and other current assets 288,164 381,718
Deferred income taxes 289,835 210,972
Total current assets 13,588,842 11,532,797
Long-term assets    
Capitalized computer software development costs, net of accumulated amortization of $8,368,000 and $7,632,421 3,878,342 3,798,339
Property and equipment, net (note 3) 297,385 413,510
Intellectual property, net of accumulated amortization of $1,256,875 and $801,250 4,818,125 5,273,750
Other intangible assets net of accumulated amortization of $258,125 and $147,500 1,391,875 1,502,500
Goodwill 4,789,248 4,789,248
Other assets 34,082 34,082
Total assets 28,797,899 27,344,226
Current liabilities    
Accounts payable 184,996 209,407
Accrued payroll and other expenses 510,792 429,580
Accrued bonuses to officers 90,750 121,000
Income taxes payable 0 43,602
Other current liabilities 13,239 19,859
Current portion - Contracts payable (note 4) 2,854,404 2,604,404
Billings in excess of revenues 112,445 106,534
Deferred revenue 261,266 78,945
Total current liabilities 4,027,892 3,613,331
Long-term liabilities    
Deferred income taxes 3,264,372 3,190,419
Payments due under Contracts payable (note 4) 0 1,000,000
Other long-term liabilities 0 8,274
Total liabilities 7,292,264 7,812,024
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 17,032,364 and 16,943,001 shares issued and outstanding 5,504 5,414
Additional paid-in capital 10,078,647 9,714,290
Retained earnings 11,421,484 9,812,498
Total shareholders' equity 21,505,635 19,532,202
Total liabilities and shareholders' equity $ 28,797,899 $ 27,344,226