XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Nov. 30, 2018
Nov. 30, 2017
Cash flows from operating activities    
Net income $ 1,535,947 $ 1,716,005
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 694,789 638,504
Change in value of contingent consideration 38,188 38,188
Stock-based compensation 244,935 166,994
Deferred income taxes (41,701) (135,500)
(Increase) decrease in    
Accounts receivable 227,402 (1,182,099)
Revenues in excess of billings (274,014) 119,840
Prepaid income taxes 312,593 462,443
Prepaid expenses and other assets 108,376 108,049
Increase (decrease) in    
Accounts payable (133,471) (99,077)
Accrued payroll and other expenses 65,892 101,772
Billings in excess of revenues (112,666) 385,275
Accrued income taxes 168,220 404,600
Deferred revenue (222,769) (83,712)
Net cash provided by operating activities 2,611,721 2,641,282
Cash flows used in investing activities    
Purchases of property and equipment (1,255) (47,276)
Purchases of intellectual property (50,000) 0
Capitalized computer software development costs (364,664) (507,090)
Net cash used in investing activities (415,919) (554,366)
Cash flows used in financing activities    
Payment of dividends (1,045,073) (1,037,088)
Payments on contracts payable (1,556,644) (247,328)
Proceeds from the exercise of stock options 357,452 27,537
Net cash used in financing activities (2,244,265) (1,256,879)
Net increase (decrease) in cash and cash equivalents (48,463) 830,037
Cash and cash equivalents, beginning of year 9,400,701 6,215,718
Cash and cash equivalents, end of period 9,352,238 7,045,755
Supplemental disclosures of cash flow information    
Income taxes paid $ 16,357 $ 34,500