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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
9 Months Ended
May 31, 2017
May 31, 2016
Cash flows from operating activities    
Net income $ 4,637,354 $ 4,161,161
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 116,348 148,442
Amortization of capitalized computer software development costs 864,443 735,579
Amortization of Intellectual property 566,250 566,250
Stock-based compensation 355,365 234,616
Deferred income taxes 99,259 (4,910)
(Increase) decrease in    
Accounts receivable (2,001,072) (2,988,866)
Revenues in excess of billings (436,023) (244,772)
Prepaid income taxes 313,946 (108,690)
Prepaid expenses and other assets 106,403 93,554
Increase (decrease) in    
Accounts payable 103,534 (24,411)
Accrued payroll and other expenses 165,593 81,212
Accrued bonus (75,250) (30,250)
Billings in excess of revenues 83,299 5,911
Accrued income taxes 0 (43,602)
Other liabilities (8,274) (14,894)
Deferred revenue (127,458) 182,321
Net cash provided by operating activities 4,763,717 2,748,651
Cash flows from investing activities    
Purchases of property and equipment (117,519) (32,317)
Capitalized computer software development costs (928,460) (815,582)
Net cash used in investing activities (1,045,979) (847,899)
Cash flows from financing activities    
Payment of dividends (2,585,043) (2,552,175)
Payments on contracts payable (1,000,000) (750,000)
Proceeds from the exercise of stock options 85,218 129,831
Net cash used in financing activities (3,499,825) (3,172,344)
Net increase (decrease) in cash and cash equivalents 217,913 (1,271,592)
Cash and cash equivalents, beginning of year 8,030,284 8,551,275
Cash and cash equivalents, end of year 8,248,197 7,279,683
Supplemental disclosures of cash flow information    
Income taxes paid $ 1,765,189 $ 2,186,159