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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Aug. 31, 2017
Aug. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,924,579 $ (1,198,302)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 391,664 427,437
Depreciation expense 787,111 660,008
Amortization 119,033 119,032
Equity in income from joint ventures (5,898,908) (4,743,831)
Dividends received from joint ventures 6,377,054 5,503,314
Impairment on investment at carrying value 1,883,668
Loss on disposal of property and equipment 50,000
Deferred income taxes (117,298) (47,000)
Receivables:    
Trade, excluding joint ventures (1,092,187) (723,798)
Trade, joint ventures 100,151 (146,526)
Fees for services provided to joint ventures 103,643 42,575
Income taxes 90,926 (40,859)
Inventories 305,268 (257,826)
Prepaid expenses and other 8,454 17,023
Accounts payable (129,371) 641,631
Income tax payable (27,297) 42,984
Accrued liabilities 742,869 (123,924)
Net cash provided by operating activities 5,735,691 2,055,606
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property and equipment (922,270) (643,407)
Purchase of available for sale securities (3,000,000) (216,423)
Proceeds from the sale of available for sale securities 1,476,880
Additions to patents (162,525) (135,410)
Net cash used in investing activities (2,607,915) (995,240)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Dividend received by non-controlling interest (200,000) (200,000)
Repurchase of common stock (196,225) (138,881)
Proceeds from employee stock purchase plan 46,536 68,634
Proceeds from exercise of stock options 122,999
Net cash used in financing activities (226,690) (270,247)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 63,839 (18,826)
NET INCREASE IN CASH AND CASH EQUIVALENTS 2,964,925 771,293
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3,395,274 2,623,981
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 6,360,199 $ 3,395,274