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CONSOLIDATED BALANCE SHEETS (USD $)
May 31, 2012
Aug. 31, 2011
Cash and cash equivalents $ 4,639,288 $ 6,774,127
Accounts receivable, net of allowance of $2,852 (August 31, 2011 - $Nil) 5,173,954 3,897,086
Inventory, net of allowance of $181,960 (August 31, 2011 - $204,860) (note 3) 4,998,450 5,815,593
Note receivable 61,500 41,500
Prepaid expenses 1,707,970 848,341
Prepaid income taxes   682,527
Total current assets 16,581,162 18,059,174
Property, plant and equipment, net (note 4) 1,758,584 1,850,037
Intangible assets, net (note 5) 464,707 510,771
Deferred income taxes (note 6) 155,810 157,862
Total assets 18,960,263 20,577,844
Accounts payable 677,042 519,265
Litigation reserve (note 12(a)) 177,552 1,627,915
Accrued liabilities 1,199,343 941,846
Accrued income taxes 204,170  
Total current liabilities 2,258,107 3,089,026
1,567,971 common shares (August 31, 2011 - 1,908,457) 1,479,721 1,801,043
Additional paid-in capital 600,804 600,804
Retained earnings 14,621,631 15,086,971
Total stockholders' equity 16,702,156 17,488,818
Total liabilities and stockholders' equity $ 18,960,263 $ 20,577,844