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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Cash flows from operating activities    
Net income $ 4,208,357 $ 3,635,396
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 1,345,313 1,392,763
Change in value of contingent consideration 0 76,376
Stock-based compensation 784,535 502,605
Deferred income taxes (17,218) (149,623)
(Increase) decrease in    
Accounts receivable (2,217,786) (713,027)
Revenues in excess of billings (879,526) (278,922)
Prepaid income taxes 307,878 312,593
Prepaid expenses and other assets 91,811 91,927
Increase (decrease) in    
Accounts payable 420,570 (61,861)
Accrued payroll and other expenses (114,056) (16,597)
Billings in excess of revenues 93,356 574,345
Accrued income taxes 0 106,845
Deferred revenue (197,477) 214,897
Net cash provided by operating activities 3,825,757 5,687,717
Cash flows from investing activities    
Purchases of property and equipment (73,462) (33,394)
Purchases of intellectual property 0 (50,000)
Capitalized computer software development costs (1,126,772) (939,869)
Net cash used in investing activities (1,200,234) (1,023,263)
Cash flows from financing activities    
Payment of dividends (2,115,119) (2,093,960)
Payments on contracts payable 0 (2,556,644)
Proceeds from the exercise of stock options 302,749 479,402
Net cash used in financing activities (1,812,370) (4,171,202)
Net increase (decrease) in cash and cash equivalents 813,153 493,252
Cash and cash equivalents, beginning of year 11,435,499 9,400,701
Cash and cash equivalents, end of period 12,248,652 9,893,953
Supplemental disclosures of cash flow information    
Income taxes paid 1,066,000 781,838
Non-Cash Investing and Financing Activities    
Right of use assets acquired $ 902,553 $ 0