SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Aug. 31, 2020

Accounting Policies [Abstract]

Property and Equipment estimated useful lives

Equipment	5 years
Computer equipment	3 to 7 years
Furniture and fixtures	5 to 7 years
Leasehold improvements	Shorter of life of asset or lease

Schedule of Operating assets and liabilities

Right of use assets	$	902,553
Lease Liabilities, Current	$	537,017
Lease Liabilities, Long-term	$	365,536

Schedule of lease cost

Right of use assets	$	926,600
Lease Liabilities, Current	$	463,465
Lease Liabilities, Long-term	$	463,312
Operating lease costs	$	600,717
Weighted Average remaining lease term		2.27 years
Weighted Average Discount rate		4.25%

Schedule of reconciliation of goodwill

	Cognigen		DILIsym		Lixoft		Total
Balance, August 31, 2017	$	4,789,248	$	5,597,950	$	–	$	10,387,198
Addition		–		–		–		–
Impairments		–		–		–		–
Balance, August 31, 2018		4,789,248		5,597,950		–		10,387,198
Addition		–		–		–		–
Impairments		–		–		–		–
Balance, August 31, 2019		4,789,248		5,597,950		–		10,387,198
Addition		–		–		2,533,987		2,533,987
Impairments		–		–		–		–
Balance, August 31, 2020	$	4,789,248	$	5,597,950	$	2,533,987	$	12,921,185

Schedule of other intangible assets

	Amortization Period	Acquisition Value		Accumulated Amortization		Net book value
Customer relationships-Cognigen	Straight line 8 years	$	1,100,000	$	825,000	$	275,000
Trade Name-Cognigen	None		500,000		–		500,000
Covenants not to compete-Cognigen	Straight line 5 years		50,000		50,000		–
Covenants not to compete-DILIsym	Straight line 4 years		80,000		65,000		15,000
Trade Name-DILIsym	None		860,000		–		860,000
Customer relationships-DILIsym	Straight line 10 years		1,900,000		617,500		1,282,500
Customer relationships-Lixoft	Straight line 14 years		2,550,000		75,892		2,474,108
Trade Name-Lixoft	None		1,550,000		–		1,550,000
Covenants not to compete-Lixoft	Straight line 3 years		60,000		8,333		51,667
		$	8,650,000	$	1,641,725	$	7,008,275

Schedule of future amortization

Year ending August 31,	Amount
2021	$	545,000
2022	$	530,000
2023	$	384,000
2024	$	372,000
2025	$	372,000

Summarizes fair value measurements

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	49,207,314	$	–	$	–	$	49,207,314
Short-term investments	$	66,803,595	$	–	$	–	$	66,803,595
Acquisition-related contingent consideration obligations	$	–	$	–	$	4,730,500	$	4,730,500

August 31, 2019:

	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	11,435,499	$	–	$	–	$	11,435,499
Short-term investments	$	–	$	–	$	–	$	–
Acquisition-related contingent consideration obligations	$	–	$	–	$	1,761,028	$	1,761,028

Reconciliation of contingent consideration value

Value at August 31, 2019	$	1,761,028
Purchase price contingent consideration		4,528,000
Contingent consideration payments		(1,761,028	)
Change in value of contingent consideration		202,500
Value at August 31, 2020	$	4,730,500

Schedule of future amortization expenses

Years ending August 31,	TSRL		Enslein		DILI-Acquired Developed Technologies		Lixoft-Acquired Developed Technologies		Entelos		Total
2021	$	600,000	$	7,500	$	316,667	$	500,625	$	5,000	$	1,429,792
2022	$	600,000	$	3,750	$	316,667	$	500,625	$	5,000	$	1,426,042
2023	$	600,000	$	–	$	316,667	$	500,625	$	5,000	$	1,422,292
2024	$	425,000	$	–	$	316,667	$	500,625	$	5,000	$	1,247,292
2025	$	–	$	–	$	316,667	$	500,625	$	5,000	$	822,292

Schedule of earnings per share

	2020		2019		2018
Numerator
Net income attributable to common shareholders	$	9,332,060	$	8,583,329	$	8,934,812
Denominator
Weighted-average number of common shares outstanding during the year		17,819,064		17,492,258		17,328,707
Dilutive effect of stock options		719,309		565,173		531,685
Common stock and common stock equivalents used for diluted earnings per share		18,538,373		18,057,431		17,860,392