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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
May 31, 2020
Aug. 31, 2019
Current assets    
Cash and cash equivalents $ 7,354,496 $ 11,435,499
Accounts receivable, net of allowance for doubtful accounts of $25,000 and $0 10,853,452 5,026,558
Revenues in excess of billings 2,838,072 3,233,659
Prepaid income taxes 392,099 765,110
Prepaid expenses and other current assets 745,468 704,316
Total current assets 22,183,587 21,165,142
Long-term assets    
Capitalized computer software development costs, net of accumulated amortization of $13,293,943 and $12,356,055 5,754,971 4,959,736
Property and equipment, net (note 4) 356,784 341,145
Operating lease right of use asset 1,019,408 0
Intellectual property, net of accumulated amortization of $4,729,270 and $3,948,750 12,275,730 5,026,249
Other intangible assets net of accumulated amortization of $1,503,481 and $1,210,000 7,146,519 3,280,000
Goodwill 12,792,171 10,387,198
Other assets 49,957 37,227
Total assets 61,579,127 45,196,697
Current liabilities    
Accounts payable 663,337 204,075
Accrued payroll and other expenses 2,137,383 1,639,038
Current portion - Contracts payable (note 5) 3,761,028 1,761,028
Billings in excess of revenues 269,232 798,549
Operating lease liability, current portion 525,454 0
Deferred revenue 428,611 380,787
Total current liabilities 7,785,045 4,783,477
Long-term liabilities    
Deferred income taxes, net 2,775,398 2,731,616
Operating lease liability 489,463 0
Payments due under Contracts payable (note 5) 3,942,333 0
Total liabilities 14,992,239 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 17,788,498 and 17,591,834 shares issued and outstanding 7,791 7,595
Additional paid-in capital 20,231,443 15,319,474
Accumulated Other Comprehensive Income (Loss) 30,460 0
Retained earnings 26,317,194 22,354,535
Total shareholders' equity 46,586,888 37,681,604
Total liabilities and shareholders' equity $ 61,579,127 $ 45,196,697