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CONSOLIDATED BALANCE SHEETS - USD ($)
Aug. 31, 2018
Aug. 31, 2017
Current assets    
Cash and cash equivalents $ 9,400,701 $ 6,215,718
Accounts receivable, net of allowance for doubtful accounts of $0 5,514,528 4,048,725
Revenues in excess of billings 1,985,596 1,481,082
Prepaid income taxes 312,593 462,443
Prepaid expenses and other current assets 610,439 459,902
Total current assets 17,823,857 12,667,870
Long-term assets    
Capitalized computer software development costs, net of accumulated amortization of $11,095,903 and $9,795,469 5,152,594 4,307,600
Property and equipment, net (note 4) 335,224 291,135
Intellectual property, net of accumulated amortization of $3,019,584 and $2,095,417 5,905,416 6,829,583
Other intangible assets net of accumulated amortization of $852,500 and $495,000 3,637,500 3,995,000
Goodwill 10,387,198 10,387,198
Other assets 37,227 34,082
Total assets 43,279,016 38,512,468
Current liabilities    
Accounts payable 351,605 240,892
Accrued payroll and other expenses 1,152,176 983,293
Current portion - Contract payable (note 5) 2,556,644 247,328
Billings in excess of revenues 384,603 216,958
Deferred revenue 381,928 353,962
Total current liabilities 4,826,956 2,042,433
Long-term liabilities    
Deferred income taxes, net 3,195,139 4,926,960
Payments due under Contracts payable (note 5) 3,334,296 5,738,188
Total liabilities 11,356,391 12,707,581
Shareholders' equity (note 7)    
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 17,416,445 and 17,277,604 shares issued and outstanding 7,417 7,278
Additional paid-in capital 13,453,668 12,109,141
Retained earnings 18,461,540 13,688,468
Total shareholders' equity 31,922,625 25,804,887
Total liabilities and shareholders' equity $ 43,279,016 $ 38,512,468