INVESTMENTS

12 Months Ended

Aug. 31, 2020

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

NOTE 5 – INVESTMENTS

The Company invests a portion of its excess cash balances in short-term debt securities. Investments at August 31, 2020 consisted of corporate bonds with maturities remaining of less than 12 months. The Company may also invest excess cash balances in certificates of deposits, money market accounts, government-sponsored enterprise securities, corporate bonds and/or commercial paper. The Company accounts for its investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities. At August 31, 2020, all investments were classified as held-to-maturity securities.

The following tables summarize the Company’s short-term investments as of August 31, 2020. The Company had no short-term investments for the year ended August 31, 2019.

FY 2020

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	66,803,595	$	–	$	(60,977	)	$	66,742,618
Total	$	66,803,595	$	–	$	(60,977	)	$	66,742,618