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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Nov. 30, 2023
Nov. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME $ 1,084,941 $ 633,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 350,933 329,522
Depreciation expense 307,010 262,876
Amortization expense 147,655 147,811
Equity in income from joint ventures (1,102,241) (1,189,404)
Dividends received from joint ventures 371,103 3,042,688
Deferred income taxes 15,335 (54,376)
Changes in current assets and liabilities:    
Trade, excluding joint ventures 1,385,108 (539,925)
Trade, joint ventures (590,713) 104,260
Fees for services provided to joint ventures 75,914 641,639
Dividends receivable from joint venture 1,986,027 0
Income taxes (285,866) (226,731)
Inventories 525,559 948,661
Prepaid expenses and other (929,250) (252,301)
Accounts payable 270,194 (1,573,008)
Income tax payable 9,594 (18,407)
Accrued liabilities (544,411) (254,442)
Net cash provided by operating activities 3,076,892 2,002,543
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (390,729) (409,094)
Investments in patents (33,142) (44,445)
Net cash used in investing activities (423,871) (453,539)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net payments on line of credit (600,000) (450,000)
Dividends paid on NTIC common stock (659,932) (655,645)
Proceeds from exercise of stock options 0 416,563
Dividend received by non-controlling interest (800,000) (80,000)
Proceeds from employee stock purchase plan 40,096 38,696
Net cash (used in) provided by financing activities (2,019,836) (730,386)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 54,673 (86,187)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 687,858 732,431
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,406,174 5,333,890
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 6,094,032 $ 6,066,321