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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Aug. 31, 2017
Cash flows from operating activities      
Net income $ 8,583,329 $ 8,934,812 $ 5,787,597
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 2,750,245 2,721,304 2,135,078
Change in value of contingent consideration 109,060 152,752 38,188
Stock-based compensation 1,077,837 709,083 621,781
Deferred income taxes (299,096) (1,731,821) (178,374)
(Increase) decrease in      
Accounts receivable 487,970 (1,465,803) (876,231)
Revenues in excess of billings (1,248,063) (504,514) (634,409)
Prepaid income taxes (452,517) 149,850 93,043
Prepaid expenses and other assets (93,877) (153,682) 40,528
Increase (decrease) in      
Accounts payable (147,529) 110,713 99,337
Accrued payroll and other expenses 486,862 168,883 283,831
Billings in excess of revenues 413,946 167,645 (118,061)
Accrued income taxes 0 0 (153,713)
Other liabilities 0 0 (8,274)
Deferred revenue (29,747) 27,966 (252,582)
Net cash provided by operating activities 11,638,420 9,287,188 6,877,739
Cash flows from investing activities      
Purchases of property and equipment (137,745) (183,291) (175,961)
Purchases of intellectual property (50,000) 0 0
Cash used to acquire subsidiaries 0 0 (4,515,982)
Cash received in acquisition 0 0 1,720,434
Capitalized computer software development costs (1,767,996) (2,145,429) (1,383,711)
Net cash used in investing activities (1,955,741) (2,328,720) (4,355,220)
Cash flows from financing activities      
Payment of dividends (4,197,055) (4,161,740) (3,448,489)
Payments on contracts payable (4,238,973) (247,328) (1,000,000)
Proceeds from the exercise of stock options 788,147 635,583 111,404
Net cash used in financing activities (7,647,881) (3,773,485) (4,337,085)
Net increase (decrease) in cash and cash equivalents 2,034,798 3,184,983 (1,814,566)
Cash and cash equivalents, beginning of year 9,400,701 6,215,718 8,030,284
Cash and cash equivalents, end of period 11,435,499 9,400,701 6,215,718
Supplemental disclosures of cash flow information      
Income taxes paid 2,673,475 2,712,988 2,687,921
Non-Cash Investing and Financing Activities      
Creation of contract liabilities for acquisition of subsidiaries $ 0 $ 0 $ 5,738,188