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Condensed Consolidated Balance Sheets - USD ($)
May 31, 2020
Aug. 31, 2019
Current Assets:    
Cash and cash equivalents $ 7,182,000 $ 4,692,000 [1]
Restricted cash 69,000 655,000 [1]
Trade accounts receivable, net 28,651,000 31,655,000 [1]
Inventory, net 41,797,000 37,259,000 [1]
Marketable securities, trading [1]   1,873,000
Prepaid expenses and other current assets 4,113,000 4,234,000 [1]
Total current assets 81,812,000 80,368,000 [1]
Property, equipment and leasehold improvements:    
Held for use, net 8,539,000 3,717,000 [1]
Held for sale, net [1]   6,855,000
Total property, equipment and leasehold improvements, net 8,539,000 10,572,000 [1]
Other assets :    
Operating lease right-of-use assets 12,428,000  
Other assets, net 2,008,000 1,938,000 [1]
Total assets 104,787,000 92,878,000 [1]
Current Liabilities:    
Trade accounts payable 16,924,000 21,138,000 [1]
Accrued expenses and other current liabilities 5,988,000 8,297,000 [1]
Liability for short sales of trading securities 69,000 655,000 [1]
Current portion of operating lease liabilities 2,370,000  
Current portion of long-term debt [1]   5,484,000
Total current liabilities 25,351,000 35,574,000 [1]
Non-current Liabilities:    
Long-term debt 12,060,000 6,114,000 [1]
Operating lease liabilities 10,192,000  
Total liabilities 47,603,000 41,688,000 [1]
Commitments and Contingencies [1]
Shareholders' Equity:    
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900) 1,000 1,000 [1]
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding 49,000 49,000 [1]
Additional paid-in capital 12,378,000 12,378,000 [1]
Accumulated other comprehensive income 657,000 876,000 [1]
Retained earnings 44,099,000 37,886,000 [1]
Total shareholders' equity 57,184,000 51,190,000 [1],[2]
Total liabilities and shareholders' equity $ 104,787,000 $ 92,878,000 [1]
[1] Derived from the Company’s audited financial statements included in its Form 10K for the year ended August 31, 2019 as filed with the U. S. Securities and Exchange Commission on November 27, 2019.
[2] Derived from the Company’s audited financial statements included in its Form 10K for the years ended August 31, 2018 and 2019 as filed with the U. S. Securities and Exchange Commission on November 28, 2018 and November 27, 2019, respectively.