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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Nov. 30, 2019
Nov. 30, 2018
Cash flows from operating activities    
Net income $ 2,058,277 $ 1,535,947
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 670,712 694,789
Change in value of contingent consideration 0 38,188
Stock-based compensation 367,117 244,935
Deferred income taxes (27,905) (41,701)
(Increase) decrease in    
Accounts receivable (1,326,858) 227,402
Revenues in excess of billings (247,275) (274,014)
Prepaid income taxes 678,032 312,593
Prepaid expenses and other assets 143,187 108,376
Increase (decrease) in    
Accounts payable 380,866 (133,471)
Accrued payroll and other expenses (44,121) 65,892
Billings in excess of revenues 91,150 (112,666)
Accrued income taxes 0 168,220
Deferred revenue (109,048) (222,769)
Net cash provided by operating activities 2,634,134 2,611,721
Cash flows from investing activities    
Purchases of property and equipment (31,495) (1,255)
Purchases of intellectual property 0 (50,000)
Capitalized computer software development costs (506,871) (364,664)
Net cash used in investing activities (538,366) (415,919)
Cash flows from financing activities    
Payment of dividends (1,056,379) (1,045,073)
Payments on contracts payable 0 (1,556,644)
Proceeds from the exercise of stock options 135,558 357,452
Net cash used in financing activities (920,821) (2,244,265)
Net increase (decrease) in cash and cash equivalents 1,174,947 (48,463)
Cash and cash equivalents, beginning of year 11,435,499 9,400,701
Cash and cash equivalents, end of period 12,610,446 9,352,238
Supplemental disclosures of cash flow information    
Income taxes paid 25,063 16,357
Non-Cash Investing and Financing Activities    
Right of use assets acquired $ 902,553 $ 0