XML 20 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Aug. 31, 2018
Aug. 31, 2017
Aug. 31, 2016
Cash flows from operating activities      
Net income $ 8,934,812 $ 5,787,597 $ 4,950,136
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 2,721,304 2,135,078 1,932,316
Change in value of contingent consideration 152,752 38,188 0
Stock-based compensation 709,083 621,781 347,077
Deferred income taxes (1,731,821) (178,374) (23,241)
(Increase) decrease in      
Accounts receivable (1,465,803) (876,231) (1,415,810)
Revenues in excess of billings (504,514) (634,409) 100,994
Prepaid income taxes 149,850 93,043 (555,486)
Prepaid expenses and other assets (153,682) 40,528 (29,093)
Increase (decrease) in      
Accounts payable 110,713 99,337 (101,296)
Accrued payroll and other expenses 168,883 283,831 52,030
Billings in excess of revenues 167,645 (118,061) 123,566
Accrued income taxes 0 (153,713) (43,602)
Other liabilities 0 (8,274) (19,859)
Deferred revenue 27,966 (252,582) 97,477
Net cash provided by operating activities 9,287,188 6,877,739 5,415,209
Cash flows from investing activities      
Purchases of property and equipment (183,291) (175,961) (39,121)
Cash used to acquire subsidiaries 0 (4,515,982) (720,000)
Cash received in acquisition 0 1,720,434 0
Capitalized computer software development costs (2,145,429) (1,383,711) (1,195,854)
Net cash used in investing activities (2,328,720) (4,355,220) (1,954,975)
Cash flows from financing activities      
Payment of dividends (4,161,740) (3,448,489) (3,413,274)
Payments on contracts payable (247,328) (1,000,000) (750,000)
Proceeds from the exercise of stock options 635,583 111,404 182,049
Net cash used in financing activities (3,773,485) (4,337,085) (3,981,225)
Net increase (decrease) in cash and cash equivalents 3,184,983 (1,814,566) (520,991)
Cash and cash equivalents, beginning of year 6,215,718 8,030,284 8,551,275
Cash and cash equivalents, end of period 9,400,701 6,215,718 8,030,284
Supplemental disclosures of cash flow information      
Income taxes paid 2,712,988 2,687,921 2,908,587
Non-Cash Investing and Financing Activities      
Stock issued for acquisition of Cognigen Corporation 0 0 1,134,404
Creation of contract liabilities for acquisition of subsidiaries $ 0 $ 5,738,188 $ 0