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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Nov. 30, 2019
Aug. 31, 2019
Current assets    
Cash and cash equivalents $ 12,610,446 $ 11,435,499
Accounts receivable, net of allowance for doubtful accounts of $0 6,353,416 5,026,558
Revenues in excess of billings 3,480,934 3,233,659
Prepaid income taxes 87,078 765,110
Prepaid expenses and other current assets 561,129 704,316
Total current assets 23,093,003 21,165,142
Long-term assets    
Capitalized computer software development costs, net of accumulated amortization of $12,669,722 and $12,356,055 5,152,941 4,959,736
Property and equipment, net (note 4) 334,763 341,145
Operating lease right of use asset 770,853 0
Intellectual property, net of accumulated amortization of $4,181,042 and $3,948,750 4,793,958 5,026,249
Other intangible assets net of accumulated amortization of $1,296,875 and $1,210,000 3,193,125 3,280,000
Goodwill 10,387,198 10,387,198
Other assets 37,227 37,227
Total assets 47,763,068 45,196,697
Current liabilities    
Accounts payable 584,944 204,075
Accrued payroll and other expenses 1,597,643 1,639,038
Income taxes payable 0 0
Current portion - Contracts payable (note 5) 1,761,028 1,761,028
Billings in excess of revenues 889,699 798,549
Operating lease liability, current portion 528,055 0
Deferred revenue 271,739 380,787
Total current liabilities 5,633,108 4,783,477
Long-term liabilities    
Deferred income taxes, net 2,703,711 2,731,616
Operating lease liability 240,072 0
Total liabilities 8,576,891 7,515,093
Commitments and contingencies (note 6)
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 17,623,324 and 17,591,834 shares issued and outstanding 7,626 7,595
Additional paid-in capital 15,822,118 15,319,474
Retained earnings 23,356,433 22,354,535
Total shareholders' equity 39,186,177 37,681,604
Total liabilities and shareholders' equity $ 47,763,068 $ 45,196,697