XML 16 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
May 31, 2020
May 31, 2019
Operating activities:    
Net income $ 6,270,000 $ 6,830,000
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 860,000 772,000
Bad debt expense 33,000 193,000
Loss on sale of real property 130,000  
Net gain on trading securities (775,000) (515,000)
(Increase) decrease in:    
Trade accounts receivable 2,971,000 (2,499,000)
Inventory (4,538,000) (6,009,000)
Prepaid expenses and other assets 51,000 (1,698,000)
Increase (decrease) in:    
Trade accounts payable (3,781,000) 2,960,000
Accrued expenses and other current liabilities (2,309,000) (1,851,000)
Operating lease assets and liabilities, net 134,000  
Net cash used in operating activities (954,000) (1,817,000)
Investing activities:    
Purchase of property, equipment, and leasehold improvements (6,032,000) (825,000)
Proceeds from sale of real property 7,075,000  
Net sales of marketable securities, trading 2,648,000 2,393,000
Net change in liabilities for short sales of trading securities (586,000) 1,401,000
Net cash provided by investing activities 3,105,000 2,969,000
Financing activities:    
Borrowings on revolving credit facility, net 1,042,000 3,797,000
Borrowings on Construction Loan 4,545,000  
Repayments on long-term debt (5,125,000) (109,000)
Preferred stock dividend (57,000) (57,000)
Bank overdraft (433,000) (467,000)
Net cash (used in) provided by financing activities (28,000) 3,164,000
Effect of foreign currency exchange rate changes on cash and cash equivalents (219,000) (38,000)
Net increase in cash, cash equivalents, and restricted cash 1,904,000 4,278,000
Cash, cash equivalents, and restricted cash - beginning of period 5,347,000 3,638,000
Cash, cash equivalents, and restricted cash - end of period 7,251,000 7,916,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 246,000 325,000
Cash paid for income taxes $ 3,405,000 $ 3,059,000