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Leases (Tables)
12 Months Ended
Aug. 31, 2024
Leases  
Schedule of Lease Related Assets and Liabilities

The table below presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets as of August 31, 2024 and 2023:

 

      2024   2023 
   Classification on Balance Sheet          
Assets             
Operating lease assets  Operating lease right of use assets  $1,691,309   $1,983,898 
Total lease assets     $1,691,309   $1,983,898 
              
Liabilities             
Current liabilities             
Operating lease liability  Current operating lease liability  $403,291   $415,392 
Noncurrent liabilities             
Operating lease liability  Long-term operating lease liability   1,440,367    1,693,577 
Total lease liability     $1,843,658   $2,108,969 
Schedule of Lease Obligations

Lease obligations at August 31, 2024 consisted of the following:

 

Years Ending August 31,    
2025  $547,571 
2026   547,393 
2027   510,676 
2028   293,723 
2029   173,588 
Thereafter   167,269 
Total payments   2,240,220 
Amount representing interest   (396,562)
Lease obligation, net   1,843,658 
Less lease obligation, current portion   (403,291)
Lease obligation, long-term portion  $1,440,367 
Schedule of Finance Leases

The net book value of equipment under finance leases included in property and equipment on the accompanying balance sheet at August 31, 2024 is as follows:

 

     
Cost  $209,457 
Accumulated amortization   (209,457)
Net book value  $- 
Schedule of Future Minimum Lease Payments

Future minimum finance lease payments are as follows:

 

Years Ending August 31,    
2025  $4,420 
Total payments   4,420 
Amount representing interest   (66)
Lease obligation, net   4,354 
Less lease obligation, current portion   (4,354)
Lease obligation, long-term portion  $-