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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
9 Months Ended
May 31, 2019
May 31, 2018
Cash flows from operating activities    
Net income $ 6,524,102 $ 7,596,828
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,070,583 2,015,825
Change in value of contingent consideration 109,061 114,564
Stock-based compensation 776,287 514,416
Deferred income taxes (248,526) (1,737,199)
(Increase) decrease in    
Accounts receivable (2,220,795) (3,652,934)
Revenues in excess of billings (695,192) (537,337)
Prepaid income taxes 312,593 462,443
Prepaid expenses and other assets 76,667 73,102
Increase (decrease) in    
Accounts payable (142,520) (43,782)
Accrued payroll and other expenses 257,026 122,902
Billings in excess of revenues 114,369 217,846
Accrued income taxes 434,886 169,452
Deferred revenue 145,406 467,281
Net cash provided by operating activities 7,513,947 5,783,407
Cash flows used in investing activities    
Purchases of property and equipment (75,861) (89,648)
Purchases of intellectual property (50,000) 0
Capitalized computer software development costs (1,362,329) (1,631,724)
Net cash used in investing activities (1,488,190) (1,721,372)
Cash flows used in financing activities    
Payment of dividends (3,144,864) (3,117,393)
Payments on Contracts Payable (2,556,644) (247,328)
Proceeds from the exercise of stock options 583,175 310,083
Net cash used in financing activities (5,118,333) (3,054,638)
Net increase (decrease) in cash and cash equivalents 907,424 1,007,397
Cash and cash equivalents, beginning of year 9,400,701 6,215,718
Cash and cash equivalents, end of period 10,308,125 7,223,115
Supplemental disclosures of cash flow information    
Income taxes paid $ 1,503,740 $ 1,763,825