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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Feb. 29, 2020
Aug. 31, 2019
Current assets    
Cash and cash equivalents $ 12,248,652 $ 11,435,499
Accounts receivable, net of allowance for doubtful accounts of $0 7,244,344 5,026,558
Revenues in excess of billings 4,113,185 3,233,659
Prepaid income taxes 457,232 765,110
Prepaid expenses and other current assets 612,505 704,316
Total current assets 24,675,918 21,165,142
Long-term assets    
Capitalized computer software development costs, net of accumulated amortization of $12,983,725 and $12,356,055 5,458,837 4,959,736
Property and equipment, net (note 4) 335,298 341,145
Operating lease right of use asset 637,509 0
Intellectual property, net of accumulated amortization of $4,413,334 and $3,948,750 4,561,666 5,026,249
Other intangible assets net of accumulated amortization of $1,383,750 and $1,210,000 3,106,250 3,280,000
Goodwill 10,387,198 10,387,198
Other assets 37,227 37,227
Total assets 49,199,903 45,196,697
Current liabilities    
Accounts payable 624,645 204,075
Accrued payroll and other expenses 1,526,891 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 891,905 798,549
Operating lease liability, current portion 493,257 0
Deferred revenue 183,310 380,787
Total current liabilities 5,481,036 4,783,477
Long-term liabilities    
Deferred income taxes, net 2,714,398 2,731,616
Operating lease liability 142,343 0
Total liabilities 8,337,777 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 17,648,646 and 17,591,834 shares issued and outstanding 7,651 7,595
Additional paid-in capital 16,406,702 15,319,474
Retained earnings 24,447,773 22,354,535
Total shareholders' equity 40,862,126 37,681,604
Total liabilities and shareholders' equity $ 49,199,903 $ 45,196,697