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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Aug. 31, 2021
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 lease cost
Schedule of lease cost       
(in thousands)    
Right of use assets  $1,276 
Lease Liabilities, Current  $382 
Lease Liabilities, Long-term  $896 
Operating lease costs  $595 
Weighted Average remaining lease term   2.50 years 
Weighted Average Discount rate   3.79% 
Schedule of reconciliation of goodwill
                
(in thousands)  Cognigen   DILIsym   Lixoft   Total 
Balance, August 31, 2019  $4,789   $5,598   $–   $10,387 
Addition   –    –    2,534    2,534 
Impairments   –    –    –    – 
Balance, August 31, 2020   4,789    5,598    2,534    12,921 
Addition   –    –    –    – 
Impairments   –    –    –    – 
Balance, August 31, 2021  $4,789   $5,598   $2,534   $12,921 
Schedule of other intangible assets
               
(in thousands)  Amortization
Period		  Acquisition
Value		   Accumulated
Amortization		   Net book
value		 
Cognigen                  
   Customer relationships  Straight line 8 years  $1,100   $963   $137 
   Trade Name  None   500    –    500 
   Covenants not to compete  Straight line 5 years   50    50    – 
DILIsym                  
   Customer relationships  Straight line 10 years   1,900    807    1,093 
   Trade Name  None   860    –    860 
   Covenants not to compete  Straight line 4 years   80    80    – 
Lixoft                  
   Customer relationships  Straight line 14 years   2,550    258    2,292 
   Trade Name  None   1,550    –    1,550 
   Covenants not to compete  Straight line 3 years   60    28    32 
      $8,650   $2,186   $6,464 

 

The following table summarizes other intangible assets as of August 31, 2020:

                
(in thousands)  Amortization
Period		  Acquisition
Value		   Accumulated
Amortization		   Net book
value		 
Cognigen                  
   Customer relationships  Straight line 8 years  $1,100   $825   $275 
   Trade Name  None   500    –    500 
   Covenants not to compete  Straight line 5 years   50    50    – 
DILIsym                  
   Customer relationships  Straight line 10 years   1,900    618    1,282 
   Trade Name  None   860    –    860 
   Covenants not to compete  Straight line 4 years   80    65    15 
Lixoft                  
   Customer relationships  Straight line 14 years   2,550    76    2,474 
   Trade Name  None   1,550    –    1,550 
   Covenants not to compete  Straight line 3 years   60    8    52 
      $8,650   $1,642   $7,008 
Schedule of future amortization
        
  (in thousands)     
 

Year ending

August 31,

   Amount 
  2022   $530 
  2023   $384 
  2024   $372 
  2025   $372 
  2026   $372 
Summarizes fair value measurements
Summarizes fair value measurements  August 31, 2021  
(in thousands)  Level 1   Level 2   Level 3   Total 
Cash and cash equivalents  $36,984   $–   $–   $36,984 
Short-term investments  $86,620   $–   $–   $86,620 
Acquisition-related contingent consideration obligations  $–   $–   $3,217   $3,217 

 

 

   August 31, 2020 
(in thousands)  Level 1   Level 2   Level 3   Total 
Cash and cash equivalents  $49,207   $–   $–   $49,207 
Short-term investments  $66,804   $–   $–   $66,804 
Acquisition-related contingent consideration obligations  $–   $–   $4,731   $4,731 
Reconciliation of contingent consideration value
Reconciliation of contingent consideration value       
(in thousands)                                             
Value as of August 31, 2020  $4,731 
Contingent consideration payments   (2,000)
Change in value of contingent consideration   486 
Value as of August 31, 2021  $3,217 
Summary of intellectual property
Summary of intellectual property                  
(in thousands)  Amortization
Period		  Acquisition
Value		   Accumulated
Amortization		   Net Book
Value		 
Royalty Agreement buy out-Enslein Research  Straight line 10 years  $75   $71   $4 
Termination/nonassertion agreement-TSRL Inc.  Straight line 10 years   6,000    4,375    1,625 
Developed technologies–DILIsym acquisition  Straight line 9 years   2,850    1,346    1,504 
Intellectual rights of Entelos Holding Company  Straight line 10 years   50    15    35 
Developed technologies–Lixoft acquisition  Straight line 16 years   8,010    709    7,301 
      $16,985   $6,516   $10,469 

 

The following table summarizes intellectual property as of August 31, 2020:

 

(in thousands)  Amortization
Period		  Acquisition
Value		   Accumulated
Amortization		   Net Book
Value		 
Royalty Agreement buy out-Enslein Research  Straight line 10 years  $75   $64   $11 
Termination/nonassertion agreement-TSRL Inc.  Straight line 10 years   6,000    3,775    2,225 
Developed technologies–DILIsym acquisition  Straight line 9 years   2,850    1,029    1,821 
Intellectual rights of Entelos Holding Company  Straight line 10 years   50    10    40 
Developed technologies–Lixoft acquisition  Straight line 16 years   8,010    209    7,801 
      $16,985   $5,087   $11,898 
Schedule of future amortization expenses
     
(in thousands)    

Year ending

August 31,

  Amount 
2022  $1,426 
2023  $1,422 
2024  $1,247 
2025  $822 
2026  $743 
Schedule of earnings per share
Schedule of earnings per share                 
   August 31, 
(in thousands)  2021   2020   2019 
Numerator               
Net income attributable to common shareholders  $9,782   $9,332   $8,583 
                
Denominator               
Weighted-average number of common shares outstanding during the year   20,045    17,819    17,492 
Dilutive effect of stock options   698    719    565 
                
Common stock and common stock equivalents used for diluted earnings per share   20,743    18,538    18,057