11. ACQUISITION/MERGER WITH LIXOFT (Tables)

9 Months Ended

May 31, 2020

Business Combinations [Abstract]

Allocation of purchase price

Assets acquired, Including cash of $3,799,134 and accounts receivable of $629,481	$	4,994,160
Developed Technologies Acquired		8,030,000
Estimated value of Intangibles assets acquired (Customer Lists, trade name etc.)		4,160,000
Estimated Goodwill acquired		2,404,973
Liabilities Assumed		(862,208	)
Total Consideration	$	18,726,925

Proforma information

	For the three-month period ended				For the nine-month period ended
	May 31, (in 1000’s) (Unaudited)				May 31, (in 1000’s) (Unaudited)
	(Pro forma)*		(Pro forma)		(Pro forma)*		(Pro forma)
	2020		2019		2020		2019
Net Sales	$	12,422	$	10,520	$	34,430	$	28,389
Net Income	$	3,565	$	2,860	$	8,442	$	7,076