0001171843-23-007230 | 10-K | XBRL Viewer | Northern Technologies International Corp

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Note 11 - Net Income Per Common Share - Reconciliation of the Earnings Per Share Computations (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Net income	$ 2,912,276	$ 6,324,700
Basic-weighted shares outstanding (in shares)	9,359,504	9,216,216
Weighted shares assumed upon exercise of stock options (in shares)	333,978	418,812
Diluted – weighted shares outstanding (in shares)	9,693,482	9,635,028
Basic net income per share: (in dollars per share)	$ 0.31	$ 0.69
Diluted net income per share: (in dollars per share)	$ 0.3	$ 0.66

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Note 15- Income Taxes

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Income Tax Disclosure [Text Block]

15.

INCOME TAXES

The provision for income taxes for the fiscal years ended August 31, 2023 and 2022 was approximately as follows:

	Fiscal Year Ended August 31,
	2023			2022
Current:
Federal	$	—		$	—
State		26,000			98,000
Foreign		1,857,000			1,894,000
		1,883,000			1,992,000
Deferred:
Federal		—			—
State		—			—
Foreign		(533,400	)		(118,164	)
		(533,400	)		(118,164	)
	$	1,349,600		$	1,873,836

Reconciliations of the expected federal income tax at the statutory rate of 21.0% with the provisions for income taxes for the fiscal years ended August 31, 2023 and 2022 were approximately as follows:

	Fiscal Year Ended August 31,
	2023			2022
Tax computed at statutory rates	$	1,352,000		$	1,780,000
State income tax, net of federal benefit		(20,000	)		34,000
Tax effect on equity in income of international joint ventures		(1,354,000	)		(988,000	)
Tax effect of foreign operations		1,005,000			1,004,000
Deemed repatriation		—			10,000
Foreign tax credit		783,000			—
Research and development credit		(710,000	)		(244,000	)
Valuation allowance		354,000			133,000
Stock based compensation		31,000			67,000
Non-controlling interest		(59,000	)		(72,000	)
Prior year true-up		(51,000	)		—
Other		18,600			149,836
	$	1,349,600		$	1,873,836

The Company has not provided U.S. income taxes or foreign withholding taxes with respect to its portion of the cumulative undistributed earnings of certain foreign subsidiaries and joint ventures that are essentially permanent in duration. As a result of the 2017 tax law changes, U.S. federal income taxes on dividends received from the Company’s foreign subsidiaries and joint ventures after December 31, 2017 have been generally eliminated. However, the Company continues to be subject to foreign withholding taxes upon repatriation of any undistributed earnings that are not essentially permanent in duration. The Company recorded a tax expense of approximately $51,600 and $8,000 during fiscal 2023 and fiscal 2022, respectively, representing changes in the deferred tax liability for foreign withholding taxes to be paid with respect to the portion of the cumulative undistributed earnings of foreign subsidiaries and joint ventures that the Company determined were not essentially permanent in duration.

The Company measures deferred tax assets and liabilities using enacted tax rates that will apply in the years in which the temporary differences are expected to be recovered or paid. The tax effect of the temporary differences and tax carryforwards comprising the net deferred taxes shown on the consolidated balance sheets as of August 31, 2023 and 2022 was approximately as follows:

	August 31,
	2023			2022
Stock-based compensation	$	556,700		$	547,200
Foreign tax credit carryforward		4,036,000			4,892,100
Capitalized research and experimentation		1,106,000			—
Other credit and loss carryforward		6,034,000			5,455,500
Other		1,048,800			1,095,300
Total deferred tax assets		12,781,500			11,990,100
Valuation allowance		(11,933,700	)		(11,592,900	)
Total deferred tax assets after valuation allowance		847,800			397,200
Right-of-use asset		(66,200	)		(98,300	)
Intangible assets		(1,670,700	)		(1,777,200	)
Unremitted foreign earnings		(214,800	)		(163,200	)
Other		(201,215	)		(58,500	)
Total deferred tax liabilities		(2,152,915	)		(2,097,200	)
Net deferred tax liabilities	$	(1,305,115	)	$	(1,700,000	)

As of August 31, 2023, the Company has foreign tax credit carryforwards of $4,036,000. This amount begins to expire to the extent not utilized by August 31, 2024. In addition, the Company had federal and state tax credit carryforwards of $4,503,600 as of August 31, 2023, which begin to expire in fiscal 2024. These federal and state tax credit carryforwards consist primarily of federal and Minnesota research and development credit carryforwards. The Company also has a deferred tax asset of $748,000 for federal net operating loss carryforwards and $290,000 for state net operating loss carryforwards as of August 31, 2023. The federal net operating loss carryforward has an indefinite carryforward period. The state net operating loss carryforward will begin to expire to the extent not utilized by August 31, 2024. The Company has a deferred tax asset of $492,500 for foreign net operating loss carryforwards, which will begin to expire to the extent not utilized by August 31, 2033.

The Company records a tax valuation allowance to reduce deferred tax assets to the amount expected to be realized when it is more likely than not that some portion or all of its deferred tax assets will not be realized.

The Company determined based on all available evidence, including historical data and projections of future results, that it is more likely than not that its domestic deferred tax assets will not be realized due to the absence of objectively verifiable sources of taxable income. On the basis of this evaluation, the Company has recorded a valuation allowance of $11,933,700 and $11,592,900 as of August 31, 2023 and 2022, respectively, to recognize only the portion of the deferred tax assets that is more likely than not to be realized. The net deferred tax asset as of August 31, 2023 and 2022 relates entirely to non-US deferred tax assets which are expected to be realized offset by deferred tax liability for withholding tax on cumulative undistributed earnings in foreign subsidiaries and joint ventures that the Company determined were not essentially permanent. The change in the valuation allowance totaled an increase of $340,800 and $145,400 for the years ended August 31, 2023 and 2022, respectively.

The following is a tabular reconciliation of the total amounts of approximated unrecognized tax benefits:

	Fiscal Year Ended August 31,
	2023		2022
Gross unrecognized tax benefits – beginning balance	$	319,000	$	297,600
Gross increases – prior period tax positions		100		3,400
Gross increases – current period tax positions		42,100		18,000
Gross unrecognized tax benefits – ending balance	$	361,200	$	319,000

The entire amount of unrecognized tax benefits would affect the effective tax rate if recognized. It is not expected that the amount of unrecognized tax benefits will change significantly in the next 12 months.

The Company recognizes interest related to unrecognized tax benefits and penalties as income tax expense. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheet. There was no liability for the payment of interest and penalties as of both August 31, 2023 and August 31, 2022.

On August 16, 2022, the Inflation Reduction Act (“IRA”) was signed into law in the United States. Among other provisions, the IRA includes a 15% corporate minimum tax rate applied to certain large corporations and a 1% excise tax on corporate stock repurchases made after December 31, 2022. The IRA has not had a material impact on our consolidated financial statements.

The Company is subject to taxation in the United States and various states and foreign jurisdictions. With few exceptions, as of August 31, 2023, the Company is no longer subject to federal, state, local, or foreign examinations by tax authorities for years prior to August 31, 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Note 10 - Stockholders' Equity (Details Textual) - $ / shares					12 Months Ended
	Mar. 01, 2023	Sep. 01, 2022	Mar. 01, 2022	Sep. 01, 2021	Aug. 31, 2023	Aug. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					277,613	174,840
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Including Cashless Exercises					265,209	51,218
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price					$ 6.46	$ 6.6
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period					184,432
Stock Issued During Period, Shares, Employee Stock Purchase Plans	3,566	3,620	2,966	2,636
The 2019 Plan [member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					426,904
The 2019 Plan [member] \| Employees and Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					277,613	174,840
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Including Cashless Exercises						51,218
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price						$ 6.6
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period						42,071
ESPP [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					62,035

Note 11 - Segment and Geographic Information - Net Sales by Segment (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Net sales	$ 79,902,952	$ 74,158,890
Total Fees	$ 5,189,185	$ 5,767,682
Total Fees percentage	100.00%	100.00%
GERMANY
Total Fees	$ 816,089	$ 834,725
Total Fees percentage	15.70%	14.50%
POLAND
Total Fees	$ 810,977	$ 730,523
Total Fees percentage	15.60%	12.70%
JAPAN
Total Fees	$ 658,934	$ 669,371
Total Fees percentage	12.70%	11.60%
SWEDEN
Total Fees	$ 498,463	$ 447,441
Total Fees percentage	9.60%	7.80%
FRANCE
Total Fees	$ 479,515	$ 448,579
Total Fees percentage	9.20%	7.80%
FINLAND
Total Fees	$ 388,627	$ 340,783
Total Fees percentage	7.50%	5.90%
CZECHIA
Total Fees	$ 365,018	$ 300,257
Total Fees percentage	7.00%	5.20%
THAILAND
Total Fees	$ 340,657	$ 344,649
Total Fees percentage	6.60%	6.00%
UNITED KINGDOM
Total Fees	$ 283,418	$ 342,488
Total Fees percentage	5.50%	5.90%
KOREA, REPUBLIC OF
Total Fees	$ 266,562	$ 270,309
Total Fees percentage	5.10%	4.70%
INDONESIA
Total Fees	$ 130,081	$ 156,476
Total Fees percentage	2.50%	2.70%
Other Countries [Member]
Net sales	$ 11,993,375	$ 9,387,597
Total Fees	$ 150,844	$ 882,081
Total Fees percentage	3.00%	15.20%
ZERUST [Member]
Net sales	$ 61,728,364	$ 57,459,382
NaturTec [Member]
Net sales	$ 18,174,588	$ 16,699,508

Note 9 - Corporate Debt

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Debt Disclosure [Text Block]

7.	CORPORATE DEBT

On January 6, 2023, the Company entered into a Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. (“JPM”), which provides the Company with a senior secured revolving line of credit (the “Credit Facility”) of up to $10.0 million, which includes a $5.0 million sublimit for standby letters of credit. Borrowings of $3,600,000 under the new Credit Agreement were outstanding August 31, 2023. Borrowings of $5,900,000 were outstanding as of August 31, 2022 under the previous credit agreement.

Unless terminated earlier, the Credit Facility will mature on January 6, 2024, and the principal amount thereunder, together with all accrued unpaid interest and other amounts owing thereunder, if any, will be payable in full on such date. Borrowings under the Credit Agreement bear interest at a floating rate, at the option of the Company, equal to either the CB Floating Rate or the Adjusted SOFR Rate. The term “CB Floating Rate” means the greater of the Prime Rate in the United States or 2.50%. The term “Adjusted SOFR Rate” means the term secured overnight financing rate for either one, three or six months (depending on the interest period selected by the Company) plus 0.10% per annum. With respect to any borrowings using an Adjusted SOFR Rate, there is an applicable margin of 2.15% applied per annum. There is no applicable margin with respect to borrowings using a CB Floating Rate. The weighted average interest rate was 6.27 and 2.74 for fiscal 2023 and 2022, respectively.

To secure the Credit Agreement, the Company assigned JPM a continuing security interest in all of its right, title and interested in collateral made up for the assets of the Company.

The Credit Agreement contains customary affirmative and negative covenants, including, among other matters, limitations on the Company’s ability to incur additional debt, grant liens, engage in certain business operations and transactions, make certain investments, modify its organizational documents or form any new subsidiaries, subject to certain exceptions. Further, the Credit Agreement contains a negative covenant that restricts the ability of the Company to redeem or repurchase its common stock or pay dividends if the result of which would cause an event of default under the Credit Agreement. The Credit Agreement also requires the Company to maintain a Fixed Charge Coverage Ratio of at least 1.25 to 1.00. The term “Fixed Charge Coverage Ratio” means the ratio, computed for the Company on a consolidated basis, of net income plus income tax expense, plus amortization expense, plus depreciation expense, plus interest expense, and plus dividends received from joint ventures, minus unfinanced capital expenditures and equity in income from joint ventures, all computed for the twelve month period then ending, to scheduled principal payments made, plus scheduled finance lease payments made, plus interest expense paid, plus income tax expense paid, and plus cash distributions and dividends paid, all computed for the same twelve month period then ending. The Company was in compliance with all covenants as of August 31, 2023 and 2022.

The Credit Agreement also contains customary events of default, including, without limitation, payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy and insolvency proceedings, cross-defaults to certain other agreements, breach of any financial covenant and change of control. Upon the occurrence and during the continuance of any event of default, JPM may accelerate the payment of the obligations thereunder and exercise various other customary default remedies.

In connection with the execution of the Credit Agreement described above, on January 6, 2023, the Amended and Restated Loan Agreement dated August 31, 2021 between Northern Technologies International Corporation and PNC Bank, National Association was terminated.

In accordance with ASC Topic No. 470, “Debt – Modifications and Extinguishments” (Topic 470), the transactions noted above were determined to be a modification of the existing debt.

On each of April 10, 2023 and May 30, 2023, the Company’s wholly-owned subsidiary in China, NTIC China, entered into a loan agreement with China Construction Bank Corporation. Each term loan provided NTIC China with a RMB 10,000,000 (USD $1.45 million). Each of the term loans matures after one year with the principal due at that time, after which an extension of the loan agreement is required. Both term loans have an annual interest rate of 3.25% with interest due monthly. Both term loans are secured by an office building owned by NTIC China and the loan agreements contain certain financial and other covenants. The Company was in compliance with the covenants as of August 31, 2023. The current outstanding balance as of August 31, 2023 for both term loans was USD $2,757,176.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Note 16 - Commitments and Contingencies (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Components of Operating Lease Assets and Liabilities [Table Text Block]

	August 31, 2023		August 31, 2022
Right-of-use assets, net	$	428,874	$	557,571

Current portion of lease liability		340,799		373,330
Lease liability, less current portion		88,075		184,241
Total lease liability	$	428,874	$	557,571

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

Fiscal 2024	$	340,799
Fiscal 2025		93,568
Fiscal 2026		11,166
Thereafter		9,639
Total future minimum lease payments		455,172
Less amount representing interest		(26,298	)
Present value of obligations under operating leases		428,874
Less current portion		(340,799	)
Long-term operating lease obligations	$	88,075

Note 10 - Stock-based Compensation - Black-Scholes Option-pricing Model Assumptions (Details)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Dividend yield	2.44%	1.65%
Expected volatility	45.20%	45.40%
Expected life of option (years) (Year)	10 years	10 years
Weighted average risk-free interest rate	3.31%	0.77%

Note 12 - Employee Retention Credit (Details Textual)	12 Months Ended
Note 12 - Employee Retention Credit (Details Textual)	Aug. 31, 2023 USD ($)
Tax Credit Carryforward, Amount Subject to Approval	$ 1,139,756

Note 6 - Investments in Joint Ventures

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

6.	INVESTMENTS IN JOINT VENTURES

The consolidated financial statements of the Company’s foreign joint ventures are initially prepared using the accounting principles accepted in the respective joint ventures’ countries of domicile. Amounts related to foreign joint ventures reported in the below tables and the accompanying consolidated financial statements have subsequently been adjusted to conform with U.S. GAAP in all material respects. All material profits on sales recorded that remain on the consolidated balance sheet from the Company to its joint ventures and from joint ventures to other joint ventures have been eliminated for financial reporting purposes.

Financial information from the audited and unaudited financial statements of the Company’s joint venture in Germany, Excor Korrosionsschutz – Technologien und Produkte GmbH (EXCOR), and all the Company’s other joint ventures are summarized as follows:

	As of August 31, 2023
	Total		EXCOR		OTHER
Current assets	$	55,339,662	$	27,862,458	$	27,477,204
Total assets		59,729,348		30,054,277		29,675,071
Current liabilities		11,464,247		2,687,064		8,777,183
Noncurrent liabilities		323,762		-		323,762
Joint ventures’ equity		47,941,339		27,367,213		20,574,126
Northern Technologies International Corporation’s share of joint ventures’ equity		23,705,714		13,683,608		10,022,106
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		20,493,861		12,075,524		8,418,337

	Fiscal Year Ended August 31, 2023
	Total		EXCOR		OTHER
Net sales	$	100,682,316	$	39,642,380	$	61,039,936
Gross profit		40,096,561		19,016,389		21,080,172
Net income		8,934,198		5,730,311		3,203,887
Northern Technologies International Corporation’s share of equity in income of joint ventures		6,452,719		2,852,229		3,600,490
Northern Technologies International Corporation’s dividends received from joint ventures		5,639,198		2,459,500		3,179,698

	As of August 31, 2022
	Total		EXCOR		OTHER
Current assets	$	52,428,831	$	26,047,914	$	26,380,917
Total assets		55,854,457		27,932,532		27,921,925
Current liabilities		10,981,833		2,943,895		8,037,938
Noncurrent liabilities		1,138,980		-		1,138,980
Joint ventures’ equity		43,733,644		24,988,637		18,745,007
Northern Technologies International Corporation’s share of joint ventures’ equity		21,814,754		12,494,320		9,320,434
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		21,256,923		12,463,415		8,793,508

	Fiscal Year Ended August 31, 2022
	Total		EXCOR		OTHER
Net sales	$	104,077,748	$	42,853,162	$	61,224,586
Gross profit		41,030,647		20,312,400		20,718,247
Net income		9,302,237		6,487,855		2,814,382
Northern Technologies International Corporation’s share of equity in income of joint ventures		4,725,918		3,236,989		1,488,929
Northern Technologies International Corporation’s dividends received from joint ventures		5,723,176		4,255,200		1,467,976

In August 2023, Tianjin Zerust (NTI ASEAN’s previously written-off joint venture in China) was deregistered and the remaining cash was cleared by the Chinese authorities to be paid out to be shareholders. Subsequent to year end, NTI Asean received a final liquidation of its ownership interest in the former joint venture of $1,986,027. This one-time equity gain on the liquidation of previously written-off investment in Tianjin Zerust is included in joint venture operations. The final liquidation payment was subject to withholding tax of $198,603 and minority income of $676,614 as NTIC owns 60% of NTI ASEAN. The transaction also resulted in legal fees of $95,890, and a management bonus expense of $250,000.

Note 11 - Segment and Geographic Information - Cost of Goods Sold by Segment (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cost of goods sold	$ 52,099,121	$ 51,090,298
Direct Cost of Goods Sold [Member] \| ZERUST [Member]
Cost of goods sold	35,297,352	34,673,146
Direct Cost of Goods Sold [Member] \| NaturTec [Member]
Cost of goods sold	13,645,992	12,859,343
Indirect Cost of Goods Sold [Member]
Cost of goods sold	$ 3,155,777	$ 3,557,809

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Aug. 31, 2023	Aug. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME	$ 4,237,731	$ 7,185,934
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	1,337,734	931,532
Depreciation expense	1,042,505	938,489
Amortization expense	588,454	629,843
Loss on disposal of property and equipment	8,534	(0)
Remeasurement gain on acquisition of equity method investee	0	(3,951,550)
Change in allowance for doubtful accounts	94,000	57,000
Equity in income from joint ventures	(6,452,719)	(4,725,918)
Dividends received from joint ventures	5,639,198	5,723,176
Deferred income taxes	(395,001)	(81,500)
Changes in current assets and liabilities:
Trade, excluding joint ventures	(1,956,234)	(2,091,353)
Trade, joint ventures	509,949	(73,053)
Fees for services provided to joint ventures	468,523	(259,550)
Dividends receivable from joint venture	(1,986,027)	0
Income taxes	(34,202)	284,025
Inventories	3,030,665	(4,818,860)
Prepaid expenses and other	(3,061)	3,111
Accounts payable	(1,509,226)	3,010,526
Income tax payable	(16,077)	(493,091)
Accrued liabilities	953,541	(1,122,683)
Net cash provided by operating activities	5,541,219	1,146,078
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of Zerust India business, net of cash acquired	0	(5,062,003)
Proceeds from the sale of available for sale securities	5,590	(956)
Investment in joint venture	0	(341,392)
Purchases of property and equipment	(3,247,652)	(1,496,674)
Proceeds from sale of property and equipment	13,000	0
Investments in patents	(114,062)	(207,149)
Net cash used in investing activities	(3,343,124)	(7,108,174)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividend received by non-controlling interest	(655,574)	(402,729)
Repayments on the line of credit	(2,300,000)	0
Proceeds from line of credit	0	5,900,000
Proceeds from term loan	2,812,504	0
Dividends paid on NTIC common stock	(2,624,462)	(2,581,179)
Proceeds from employee stock purchase plan	75,464	73,645
Proceeds from exercise of stock options	638,270	198,640
Net cash (used in) provided by financing activities	(2,053,798)	3,188,377
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(72,014)	426,968
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	72,283	(2,346,751)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	5,333,890	7,680,641
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 5,406,173	$ 5,333,890

Note 10 - Stock-based Compensation

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

10.

STOCK-BASED COMPENSATION

The Company has three stock-based compensation plans under which stock options or other stock-based awards have been granted: the Northern Technologies International Corporation Amended and Restated 2019 Stock Incentive Plan, the Northern Technologies International Corporation Amended and Restated 2007 Stock Incentive Plan (the 2007 Plan) and the Northern Technologies International Corporation Employee Stock Purchase Plan. The 2019 Plan replaced the 2007 Plan with respect to future grants; and, therefore, no further awards may be made under the 2007 Plan. The Compensation Committee of the Board of Directors and the Board of Directors administer these plans.

The 2019 Plan provides for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, stock unit awards, performance awards, and stock bonuses to eligible recipients to enable the Company and its subsidiaries to attract and retain qualified individuals through opportunities for equity participation in the Company and to reward those individuals who contribute to the achievement of the Company’s economic objectives. On January 15, 2021, the Company’s stockholders approved certain amendments to the 2019 Plan, including an increase in the number of shares of common stock available for issuance under the plan by an additional 800,000 shares. Subject to adjustment as provided in the 2019 Plan, up to a maximum of 1,600,000 shares of the Company’s common stock are issuable under the 2019 Plan. Options granted generally have a term of ten years and become exercisable over a one- or three- year period beginning on the one-year anniversary of the date of grant. Options are granted at per share exercise prices equal to the market value of the Company’s common stock on the date of grant. The Company issues new shares upon the exercise of options. As of August 31, 2023, options to purchase an aggregate of 1,117,570 shares of the Company’s common stock were outstanding under the 2019 Plan and 426,904 shares of the Company’s common stock remain available for grant under the 2019 Plan. As of August 31, 2023, options to purchase an aggregate of 439,560 shares of the Company’s common stock were outstanding under the 2007 Plan.

The Company granted options to purchase an aggregate of 277,613 and 174,840 shares of its common stock during fiscal 2023 and 2022, respectively. The fair value of option grants is determined at the date of grant using the Black-Scholes option pricing model with the assumptions listed below. The Company recognized compensation expense of $1,337,734 during fiscal 2023 and compensation expense of $931,532 during fiscal 2022 related to the options that vested during such time period. As of August 31, 2023, the total compensation cost for non-vested options not yet recognized in the Company’s consolidated statements of operations was $1,019,291. Stock-based compensation expense of $682,724 is expected during fiscal 2024 and $336,567 is expected to be recognized during fiscal 2025, based on outstanding options as of August 31, 2023. Future option grants will impact the compensation expense recognized. Stock-based compensation expense is included in general and administrative expense on the consolidated statements of operations.

The fair value of each option grant is estimated on the grant date using the Black-Scholes option pricing model with the following assumptions and results for the grants:

	Fiscal Year 2023			Fiscal Year 2022
Dividend yield		2.44	%		1.65	%
Expected volatility		45.2	%		45.4	%
Expected life of option (years)	10			10
Weighted average risk-free interest rate		3.31	%		0.77	%

Stock option activity during the periods indicated was as follows:

	Number of Shares (#)			Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at August 31, 2021		1,426,651		$	9.30
Options granted		174,840			16.97
Options exercised		(51,218	)		6.60
Options terminated		(5,546	)		18.23

Outstanding at August 31, 2022		1,544,727		$	10.23
Options granted		277,613			11.41
Options exercised		(265,209	)		6.46
Options terminated		-			-

Outstanding at August 31, 2023		1,557,130		$	11.08	$	4,240,525

Exercisable at August 31, 2023		1,079,897		$	10.77	$	3,329,061

The weighted average per share fair value of options granted during fiscal 2023 and fiscal 2022 was $11.41 and $16.97, respectively. The weighted average remaining contractual life of the options outstanding as of August 31, 2023 and 2022 was 6.25 years and 5.76 years, respectively.

Note 10 - Stockholders' Equity (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Dividends Declared [Table Text Block]

Declaration Date	Amount	Record Date	Payable Date
October 20, 2022	$0.07	November 3, 2022	November 16, 2022
January 20, 2023	$0.07	February 1, 2023	February 15, 2023
April 21, 2023	$0.07	May 3, 2023	May 17, 2023
July 17, 2023	$0.07	August 2, 2023	August 16, 2023

Declaration Date	Amount	Record Date	Payable Date
October 20, 2021	$0.07	November 3, 2021	November 17, 2021
January 21, 2022	$0.07	February 2, 2022	February 16, 2022
April 22, 2022	$0.07	May 4, 2022	May 18, 2022
July 20, 2022	$0.07	August 3, 2022	August 17, 2022

Note 4 - Property and Equipment, Net

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

4.	PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

	August 31, 2023			August 31, 2022
Land	$	496,965		$	310,365
Buildings and improvements		17,250,392			14,778,759
Machinery and equipment		5,984,364			5,643,320
		23,731,721			20,732,444
Less accumulated depreciation		(9,666,367	)		(8,561,951	)
	$	14,065,354		$	12,170,493

On February 28, 2023, the Company purchased the property immediately adjacent to NTIC’s headquarters in Circle Pines, Minnesota, which includes a 26,000 square foot industrial building, for $1,200,000. The building will be used primarily for warehousing space and light industrial production. Depreciation expense was $1,042,505 for fiscal 2023 compared to $938,489 in fiscal 2022.

Note 11 - Segment and Geographic Information - Total Long-lived Assets by Geographic Distribution (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Property, plant, and equipment	$ 14,065,354	$ 12,170,493
CHINA
Property, plant, and equipment	5,729,080	5,826,898
Other Countries [Member]
Property, plant, and equipment	745,469	565,022
UNITED STATES
Property, plant, and equipment	$ 7,590,805	$ 5,778,573

Consolidated Statements of Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
BALANCE (in shares) at Aug. 31, 2021	9,184,811
BALANCE at Aug. 31, 2021	$ 183,696	$ 18,736,268	$ 46,973,092	$ (3,525,030)	$ 3,382,555	$ 65,750,581
Stock options exercised (in shares)	42,071
Stock options exercised	$ 842	197,798	0	0	0	198,640
Stock issued for employee stock purchase plan (in shares)	5,601
Stock issued for employee stock purchase plan	$ 112	73,533	0	0	0	73,645
Stock option expense	0	931,532	0	0	0	931,532
Dividends paid to stockholders	0	0	(2,581,179)		0	(2,581,179)
Dividend received by non-controlling interest	0	0	0	0	(402,729)	(402,729)
Net income	0	0	6,324,700	0	861,234	7,185,934
Other comprehensive income (loss)	$ 0	0	0	(3,720,102)	(192,026)	(3,912,128)
BALANCE (in shares) at Aug. 31, 2022	9,232,483
BALANCE at Aug. 31, 2022	$ 184,650	19,939,131	50,716,613	(7,245,132)	3,649,034	$ 67,244,296
Stock options exercised (in shares)	184,432					184,432
Stock options exercised	$ 3,689	634,581	0	0	0	$ 638,270
Stock issued for employee stock purchase plan (in shares)	7,186
Stock issued for employee stock purchase plan	$ 143	75,321	0	0	0	75,464
Stock option expense	0	1,337,734	0	0	0	1,337,734
Dividends paid to stockholders	0	0	(2,624,462)		0	(2,624,462)
Dividend received by non-controlling interest	0	0	0	0	(655,574)	(655,574)
Net income	0	0	2,912,276	0	1,325,455	4,237,731
Other comprehensive income (loss)	$ 0	0	0	421,729	23,609	445,338
BALANCE (in shares) at Aug. 31, 2023	9,424,101
BALANCE at Aug. 31, 2023	$ 188,482	$ 21,986,767	$ 51,004,427	$ (6,823,403)	$ 4,342,524	$ 70,698,797

Note 17 - Supplemental Cash Flow Information

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

17.

SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental disclosures of cash flow information consisted of:

	Fiscal Year Ended August 31,
	2023		2022
Cash paid for income tax	$	1,064,894	$	1,218,467
Cash paid for interest		461,805		89,096
Cash paid for operating leases		373,330		272,336

Note 4 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Fiscal 2024	$ 642,951
Fiscal 2025	543,721
Fiscal 2026	517,990
Fiscal 2027	492,221
Fiscal 2028	479,012
Thereafter	3,483,589
Total	$ 6,159,485	$ 6,633,878

Note 1 - Nature of Business and Significant Accounting Policies

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1.	NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

Nature of Business – Northern Technologies International Corporation and its Subsidiaries (collectively, the Company) develop and market proprietary environmentally beneficial products and services in over 65 countries either directly or via a network of subsidiaries, joint ventures, independent distributors, and agents. The Company’s primary business is corrosion prevention marketed mainly under the ZERUST® brand. The Company has been selling its proprietary ZERUST® products and services to the automotive, electronics, electrical, mechanical, military, and retail consumer markets for almost 50 years and, more recently, has also expanded into the oil and gas industry. Additionally, the Company markets and sells a portfolio of proprietary bio-based and certified compostable (fully biodegradable) polymer resin compounds and finished products under the Natur-Tec® brand. These products are intended to reduce the Company’s customers’ carbon footprint and provide environmentally sound waste disposal options. The Company’s two operating segments are ZERUST and Natur-Tec.

The Company participates, either directly or indirectly, in 15 active joint venture arrangements in North America, Europe, and Asia. Each of these joint ventures generally manufactures and markets products in the geographic territory to which it is assigned. While most of the Company’s joint ventures exclusively sell rust and corrosion inhibiting products, some of the joint ventures also sell the Company’s Natur-Tec® resin compounds and finished products. The profits of joint ventures are shared by the respective joint venture owners in accordance with their respective ownership percentages. The Company typically owns 50% or less of its joint venture entities and does not control the decisions of these entities, including dividend declaration or amount in any given year.

Impact of COVID-19 – As a result of the novel coronavirus (COVID-19) and related government mandated restrictions on the Company’s business, as well as the businesses of its joint ventures, customers and suppliers, disruption to the Company’s business and the manufacture and sale of its products and services continued to occur during fiscal 2023, including in particular in China. While demand in China improved during the third quarter of fiscal 2023 as a result of government restrictions that were lifted, the Company continued to experience softened demand for its products in China during the remainder of fiscal 2023. The Company may continue to experience softened demand into fiscal 2024 as the result of novel strains of COVID-19.

Principles of Consolidation – NTIC evaluates its voting and variable interests in entities on a qualitative and quantitative basis. NTIC consolidates entities in which it concludes it has the power to direct the activities that most significantly impact an entity’s economic success and has the obligation to absorb losses or the right to receive benefits that could be significant to the entity. The consolidated financial statements include the accounts of Northern Technologies International Corporation, its wholly owned subsidiaries, Northern Technologies Holding Company, LLC, NTIC (Shanghai) Co., Ltd. (NTIC China), ZERUST-EXCOR MEXICO, S. de R.L. de C.V (Zerust Mexico), NTIC Europe GmbH (NTI Europe), and HNTI Limited (Zerust India), NTIC’s majority-owned subsidiary in India, Natur-Tec India Private Limited (Natur-Tec India), NTIC’s majority-owned subsidiary in Brazil, Zerust Prevenção de Corrosão S.A. (Zerust Brazil), NTIC’s majority-owned subsidiary in Sri Lanka, Natur Tec Lanka (Pvt) Ltd (Natur Tec Lanka), and NTIC’s majority-owned holding company, NTI Asean LLC (NTI Asean), and its wholly owned subsidiaries Zerust Singapore Pte Ltd (Zerust Singapore), Zerust Vietnam Co. Ltd (Zerust Vietnam) and Zerust Taiwan Co. Ltd (Zerust Taiwan). NTIC’s consolidated financial statements do not include the accounts of any of its joint ventures.

Non-Controlling Interests – The Company owns 75% of Natur-Tec India, 75% of Natur Tec Lanka, 85% of Zerust Brazil, 60% of NTI Asean, Zerust Singapore Pte Ltd, Zerust Vietnam Co Ltd and Zerust Taiwan Co Ltd. The remaining ownership of the consolidated entities are accounted for as non-controlling interests and reported as part of equity in the consolidated financial statements. The Company allocates gains and losses to the non-controlling interest even when such allocation results in a deficit balance, reducing the losses attributed to the controlling interest. Changes in ownership interests are treated as equity transactions if the Company maintains control.

Net Sales – The Company includes net sales to its joint ventures and net sales to unaffiliated customers as separate line items on its consolidated statements of operations. There are no sales originating from the Company’s joint ventures included in the amount, as the Company’s investments in its joint ventures are accounted for using the equity method.

When determining recognition of revenue arrangements the Company performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to, or services it performs for, the customer.

Generally, the Company’s performance obligations are satisfied when the customers take possession of the products, which normally occurs at the shipping point or destination depending on the terms of the contracts. The Company’s services are generally sold based upon quotes or contracts with customers that include a fixed or determinable price, and sales arrangements do not contain any significant financing component for its customers. The Company does not recognize revenue related to product warranties, nor does the Company incur significant contract costs. Customer arrangements do not generate contract assets or liabilities.

Revenue Recognition – Revenue is measured based on consideration specified in the contract with a customer, adjusted for any applicable estimates of variable consideration and other factors affecting the transaction price, including noncash consideration, consideration paid or payable to customers, and significant financing components. Revenue from all customers is recognized when a performance obligation is satisfied by transferring control of a distinct good or service to a customer.

Individually promised goods and services in a contract are considered a distinct performance obligation and accounted for separately if the customer can benefit from the individual good or service on its own or with other resources that are readily available to the customer and the good or service is separately identifiable from other promises in the arrangement. When an arrangement includes multiple performance obligations, the consideration is allocated between the performance obligations in proportion to their estimated standalone selling price. Costs related to products delivered are recognized in the period incurred, unless criteria for capitalization of costs are met. Costs of revenues consist primarily of direct labor, manufacturing overhead, materials, and components. The Company does not incur significant upfront costs to obtain a contract. If costs to obtain a contract were to become material, the costs would be recorded as an asset and amortized to expense in a manner consistent with the related recognition of revenue.

The Company excludes government assessed and imposed taxes on revenue generating transactions that are invoiced to customers from revenue. The Company includes freight billed to customers in revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold.

The timing of revenue recognition, billing, and cash collections results in accounts receivable on the consolidated balance sheet.

Performance Obligations – A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation in proportion to its standalone selling price and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s various performance obligations and the timing or method of revenue recognition are discussed below. The Company’s technical

service consultants work directly with the end users of NTIC’s ZERUST® rust and corrosion inhibiting products to

analyze their specific needs and develop systems to meet their performance requirements.

The Company sells its products to both distributors and end-users. Each unit of product delivered under a customer order represents a distinct and separate performance obligation, as the customer can benefit from each unit on its own or with other resources that are readily available to the customer, and each unit of product is separately identifiable from other products in the arrangement.

The transaction price for the Company’s products is the invoiced amount. The Company does not have variable consideration in the form of refunds, credits, rebates, price concessions, pricing incentives, or other items impacting transaction price. The purchase order pricing in arrangements with customers is deemed to approximate standalone selling price; therefore, the Company does not need to allocate proceeds on a relative standalone selling price allocation between performance obligations. The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. There are no material obligations that extend beyond one year.

Revenue is recognized when transfer of control occurs, as defined by the terms in the customer agreement. The Company immediately recognizes incidental items that are immaterial in the context of the contract. The Company has applied the practical expedient in paragraph 606-10-25-16A and does not assess if immaterial items are promised goods or services. The Company has also applied the practical expedient in paragraph 606-10-32-18 regarding the adjustment of the promised amount of consideration for the effects of a significant financing component when the customer pays for that good or service within one year or less, as the Company does not have any significant financing components in its customer arrangements since payment is received at or shortly after the point of sale, generally thirty to ninety days.

The Company estimates returns based on an analysis of historical experience if the right to return products is granted to its customers. The Company does not record a return asset, as non-conforming products are generally not returned. The Company’s return policy does not vary by geography. The customer has no rotation or price protection rights, and the Company is not under a warranty obligation.

Sales Commissions – Sales commissions paid to sales representatives are eligible for capitalization, as they are incremental costs that would not have been incurred without entering into a specific sales arrangement and are recoverable through the expected margin on the transaction. The Company has elected to apply the practical expedient provided by ASC 340-40-25-4 and recognize the incremental costs of obtaining contracts as an expense when incurred, as the amortization period of the assets that would have otherwise been recognized is one year or less. The Company records these costs as a selling expense.

Product Warranty – The Company offers warranties on various products and services. These warranties are assurance type warranties that are not sold on a standalone basis; therefore, they are not considered distinct performance obligations. The Company estimates the costs that may be incurred under its warranties and records a liability in the amount of such costs at the time the revenue is recognized for the product sale.

International Revenue – The Company markets its products to numerous countries in North America, Europe, Latin America, Asia, and other parts of the world. See Note 11, Segment and Geographic Information, for information regarding revenue disaggregation by geography.

Trade Receivables – Payment terms for the Company’s unaffiliated customers are determined based on credit risk and vary by customer. The Company typically offers standard payment terms to unaffiliated customers of net 30 days. The Company does not accrue interest on past due accounts receivable. The Company reviews the credit histories of its customers before extending unsecured credit. The Company presents accounts and notes receivable net of an allowance for doubtful accounts. Each quarter, the Company prepares an analysis of its ability to collect outstanding receivables that provides a basis for an allowance estimate for doubtful accounts. In doing so, the Company evaluates the age of its receivables, past collection history, current financial conditions of key customers and its joint ventures, and economic conditions. Based on this evaluation, the Company establishes a reserve for specific accounts and notes receivable that it believes are uncollectible, as well as an estimate of uncollectible receivables not specifically known. The Company believes that an analysis of historical trends and its current knowledge of potential collection problems provide the Company with sufficient information to establish a reasonable estimate for an allowance for doubtful accounts. In the event the Company determines that a smaller or larger uncollectible accounts reserve is appropriate, the Company records a credit or charge to selling expense in the period that it made such determination. Accounts receivable have been reduced by an allowance for uncollectible accounts of $533,000 and $439,000 as of August 31, 2023 and 2022, respectively. Accounts are considered past due based on terms agreed upon between the Company and the customer. Accounts receivable are written-off only after all collection attempts have failed and are based on individual credit evaluation and specific circumstances of the customer.

Trade Receivables from Joint Ventures – Trade receivables from joint ventures arise from sales of products the Company makes to its joint ventures. Payment terms for the Company’s joint ventures also are determined based on credit risk; however, additional consideration is given to the individual joint venture due to the transportation time associated with ocean delivery of most products and certain other factors. Generally, accounts receivable from the Company’s joint ventures unpaid after 90 days are considered past due. The Company does not accrue interest on past due balances. The Company periodically reviews amounts due from its joint ventures for collectability and, based on past experience and continuous review of the balances due, determined that an allowance for doubtful accounts related to its joint venture receivables was not necessary as of August 31, 2023 or 2022.

Employee Retention Credit (ERC) and Payroll Tax Deferral - On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law providing numerous tax provisions and other stimulus measures, including an employee retention credit (“ERC”), which is a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERC.

The Company engaged tax advisors of a Big 4 accounting firm which determined the Company qualified for ERCs. The Company then applied for the ERC in fiscal 2023 for the second and third quarters of that year of $573,751 and $566,006, respectively. The Company has elected to account for the credit as a government grant. U.S. GAAP does not include grant accounting guidance for for-profit entities, therefore, the Company has elected to follow the grant accounting model in International Accounting Standard (IAS) 20, Accounting for Government Grants and Disclosure of Government Assistance. In accordance with IAS 20, the Company cannot recognize any income from the grant until there is reasonable assurance (similar to the “probable” threshold in U.S. GAAP) that any conditions attached to the grant will be met and that the grant will be received. Once it is reasonably assured that the grant conditions will be met and that the grant will be received, grant income is recorded on a systematic basis over the periods in which the Company recognizes the payroll expenses for which the grant is intended to compensate. No income was recognized in fiscal 2023 for the ERC. Income from the grant can be presented as either other income or as a reduction in the expenses for which the grant was intended to compensate.

Fees for Services Provided to Joint Ventures – The Company provides services to its joint ventures including consulting, legal, travel, insurance, technical, and marketing services based on licensing or other agreements with its joint ventures. The Company receives fees for the services it provides to its joint ventures. The fees for services received by the Company from its joint ventures are generally based on either a flat fee or a percentage of net sales by the Company’s joint ventures depending on local laws and tax regulations. Under the Company’s agreements with its joint ventures, amounts are earned when product is shipped from joint venture facilities, at which point a sale is deemed to have occurred and results in obligation for the joint venture to pay the royalty and recognition of the fee by the Company. The Company reviews the financial situation of each of its joint ventures to assist in the likelihood of collections on amounts earned. The Company accounts for these fees on a cash basis if uncertainty exists surrounding the collection of such fees.

Cash and Cash Equivalents – The Company includes as cash and cash equivalents highly liquid, short-term investments with maturity of three months or less when purchased, which are readily convertible into known amounts of cash. The Company maintains its cash in high quality financial institutions. The balances, at times, may exceed federally insured limits.

Available for Sale Securities – Available for sale securities are recorded at fair value. Unrealized holding gains and losses on available for sale securities are not significant.

Inventories – Inventories are recorded at the lower of cost (first-in, first-out basis) or net realizable value.

Property and Depreciation – Property and equipment are stated at cost. Depreciation is computed using the straight-line method based on the estimated service lives of the various assets as follows:

Buildings and improvements	5-30 years
Machinery and equipment	3-10 years

Patents and Trademarks – Patents and trademarks, including acquisition costs, are stated at cost, less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the respective assets. Upon retirement, the cost of assets disposed and the related accumulated amortization are removed from the accounts, and any resulting gain or loss is credited or charged to operations.

Investments in Joint Ventures – Investments in the Company’s joint ventures are accounted for using the equity method. Under the equity method, investments are initially recorded at cost and are adjusted for dividends, distributed and undistributed earnings and losses, changes in foreign currency exchange rates, and additional investments. In the event the Company’s share of a joint venture’s cumulative losses exceeds the Company’s investment balance, the balance is reported at zero value until proportionate income exceeds the losses. The Company assesses its joint ventures for impairment on an annual basis as of August 31 of each year as part of its fiscal year end analysis. In addition to the annual review for impairment, the Company reviews the operating results of each joint venture on a quarterly basis in comparison to its historical operating results and its accrual of fees for services provided to joint ventures. If the operating results of a joint venture do not meet financial performance expectations, an additional evaluation is performed on the joint venture. The Company’s evaluation of its investments in joint ventures requires the Company to make assumptions about future cash flows of its joint ventures. These assumptions require significant judgment, and actual results may differ from assumed or estimated amounts. All investments in joint ventures had positive equity as of August 31, 2023 and 2022. The Company considers any of its joint ventures to be significant and discloses entity specific financial information if the joint venture’s income or assets make up more than 20% of the Company’s total assets or income.

The Company classifies distributions received from its joint ventures based on the nature of the distributions, generally, in operating activities on the consolidated statements of cash flows.

If the Company is no longer able to exercise significant influence over operating and financial policy of a joint venture previously accounted for under the equity method, it maintains the investment at the carrying value as of the date that significant influence no longer exists and discontinues accruing the proportionate earnings or losses of the investment.

Investments are considered to be impaired when a decline in fair value is judged to be other-than-temporary. Fair value is calculated based on publicly available market information or other estimates determined by management. The Company employs a systematic methodology on a quarterly basis that considers available quantitative and qualitative evidence in evaluating potential impairment of our investments. If the cost of an investment exceeds its fair value, the Company evaluates, among other factors, general market conditions, credit quality, the duration and extent to which the fair value is less than cost, and for equity securities, the Company’s intent and ability to hold, or plans to sell, the investment. The Company also considers specific adverse conditions related to the financial health of and business outlook for the investee, including industry and sector performance, changes in technology, and operational and financing cash flow factors. Once a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded to other income (expense), and a new cost basis in the investment is established. The Company determined that there was no impairment of investments in joint ventures as of August 31, 2023.

Recoverability of Long-Lived Assets – The Company reviews its long-lived assets whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. The Company determines potential impairment by comparing the carrying value of the assets with expected net cash flows expected to be provided by operating activities of the business or related products. If the sum of the expected undiscounted future net cash flows is less than the carrying value, the Company evaluates whether an impairment loss should be recognized. An impairment loss is measured by comparing the amount by which the carrying value exceeds the fair value of the asset. When evaluating assets for impairment, the Company groups long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company determined that there were no indications that the carrying value of long-lived assets was not recoverable as of August 31, 2023.

Acquisitions of Businesses - Business combinations are accounted for under the acquisition method. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Determining the fair value of assets acquired and liabilities and contingent liabilities assumed requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, probabilities of success, discount rates, and asset lives, among other items. The excess of the fair value of the consideration transferred over the fair value of the Company’s share of the identifiable net assets acquired is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are recognized as general and administrative expense as incurred. The Company evaluates the materiality of required disclosures related to our business combinations using quantitative and qualitative measures.

Goodwill and Other Intangible Assets- Goodwill represents the excess purchase price over the fair value of tangible net assets acquired in acquisitions after amounts have been allocated to intangible assets. Goodwill is tested for impairment annually (at August 31), or more frequently when events or changes in circumstances indicate that the asset might be impaired. Examples of such events or circumstances include, but are not limited to, a significant adverse change in legal or business climate, an adverse regulatory action or unanticipated competition.

The Company estimates the useful life of patents to be 17 years and customer relationships to be 15 years. This estimate is based on a combination of factors, including the expected duration of patent protection, technological obsolescence, and market conditions. Amortization of intangible assets is recorded using the straight-line method over their estimated useful lives.

The Company assesses qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If after assessing the totality of events or circumstances, the Company were to determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company would perform a quantitative test that compares the fair value to its carrying value to determine the amount of any impairment. The Company has determined there was no goodwill impairment as of August 31, 2023.

Income Taxes – The Company utilizes the asset and liability method of accounting for income taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Deferred income tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in operations in the period that includes the enactment date.

The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company determines that it would be able to realize its deferred assets in the future in excess of their net recorded amount, the Company makes an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company records uncertain tax positions on the basis of a two-step process whereby the Company determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and those tax positions that meet the more-likely-than-not recognition threshold. The Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

Foreign Currency Translation (Accumulated Other Comprehensive Income (Loss)) – The functional currency of NTIC China, Zerust Brazil, Natur-Tec India, Natur Tec Lanka, Zerust Mexico, Zerust India, Zerust Singapore, Zerust Vietnam, Zerust Taiwan, NTI Europe, and each unconsolidated international joint venture is the applicable local currency. The translation of the applicable foreign currencies into U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average monthly exchange rate. Translation gains or losses are reported as an element of other comprehensive income (loss).

The Company (excluding NTIC China, Zerust Brazil, Natur-Tec India, Natur Tec Lanka, Zerust India, Zerust Singapore, Zerust Vietnam, Zerust Taiwan, NTI Asean, Zerust Mexico, NTI Europe, and NTIC’s joint ventures) conducts all foreign transactions based on the U.S. dollar. Since investments in joint ventures are accounted for using the equity method, any changes in foreign currency exchange rates are reflected as a foreign currency translation adjustment and do not change the equity in income from joint ventures reflected in the Company’s consolidated statements of operations.

Fair Value of Financial Instruments – The carrying value of cash and cash equivalents, available for sale securities, short-term accounts and notes receivable, notes payable, trade accounts payables, and other accrued expenses approximate fair value because of the short maturity of those instruments.

Shipping and Handling – The Company records all amounts billed to customers in a sales transaction related to shipping and handling as sales. The Company records costs related to shipping and handling in cost of goods sold.

Research and Development – The Company expenses all costs related to product research and development as incurred.

Common Stock – The Company issues authorized but unissued shares of common stock upon the exercise of stock options.

Stock-Based Compensation – The Company recognizes compensation cost relating to share-based payment transactions, including grants of employee stock options and transactions under the Company’s employee stock purchase plan, in its consolidated financial statements. That cost is measured based on the fair value of the equity or liability instruments issued. The Company measures the cost of employee services received in exchange for stock options and other stock-based awards based on the grant-date fair value of the award and recognizes the cost over the period the employee is required to provide services for the award (generally the vesting term).

Subsequent Events – The Company has evaluated events occurring after the date of the consolidated financial statements for events requiring disclosure in the consolidated financial statements.

Use of Estimates – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 15- Income Taxes (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Fiscal Year Ended August 31,
	2023			2022
Current:
Federal	$	—		$	—
State		26,000			98,000
Foreign		1,857,000			1,894,000
		1,883,000			1,992,000
Deferred:
Federal		—			—
State		—			—
Foreign		(533,400	)		(118,164	)
		(533,400	)		(118,164	)
	$	1,349,600		$	1,873,836

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Fiscal Year Ended August 31,
	2023			2022
Tax computed at statutory rates	$	1,352,000		$	1,780,000
State income tax, net of federal benefit		(20,000	)		34,000
Tax effect on equity in income of international joint ventures		(1,354,000	)		(988,000	)
Tax effect of foreign operations		1,005,000			1,004,000
Deemed repatriation		—			10,000
Foreign tax credit		783,000			—
Research and development credit		(710,000	)		(244,000	)
Valuation allowance		354,000			133,000
Stock based compensation		31,000			67,000
Non-controlling interest		(59,000	)		(72,000	)
Prior year true-up		(51,000	)		—
Other		18,600			149,836
	$	1,349,600		$	1,873,836

Summary of Income Tax Contingencies [Table Text Block]

	August 31,
	2023			2022
Stock-based compensation	$	556,700		$	547,200
Foreign tax credit carryforward		4,036,000			4,892,100
Capitalized research and experimentation		1,106,000			—
Other credit and loss carryforward		6,034,000			5,455,500
Other		1,048,800			1,095,300
Total deferred tax assets		12,781,500			11,990,100
Valuation allowance		(11,933,700	)		(11,592,900	)
Total deferred tax assets after valuation allowance		847,800			397,200
Right-of-use asset		(66,200	)		(98,300	)
Intangible assets		(1,670,700	)		(1,777,200	)
Unremitted foreign earnings		(214,800	)		(163,200	)
Other		(201,215	)		(58,500	)
Total deferred tax liabilities		(2,152,915	)		(2,097,200	)
Net deferred tax liabilities	$	(1,305,115	)	$	(1,700,000	)

	Fiscal Year Ended August 31,
	2023		2022
Gross unrecognized tax benefits – beginning balance	$	319,000	$	297,600
Gross increases – prior period tax positions		100		3,400
Gross increases – current period tax positions		42,100		18,000
Gross unrecognized tax benefits – ending balance	$	361,200	$	319,000

Note 1 - Nature of Business and Significant Accounting Policies (Details Textual)	3 Months Ended		12 Months Ended
	May 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)
Number of Countries in which Entity Operates			65
Number of Operating Segments			2
Number of Joint Venture Arrangements			15
Accounts Receivable, Allowance for Credit Loss			$ 533,000	$ 439,000
Tax Credit Carryforward, Amount Subject to Approval			$ 1,139,756
Patents [Member]
Finite-Lived Intangible Asset, Useful Life			17 years
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			15 years
Employee Retention Credits [Member]
Tax Credit Carryforward, Amount Subject to Approval	$ 566,006	$ 573,751
Natur-Tech India [Member]
Subsidiary, Ownership Percentage, Parent			75.00%
Natur Tec Lanka [Member]
Subsidiary, Ownership Percentage, Parent			75.00%
Zerust Brazil [Member]
Subsidiary, Ownership Percentage, Parent			85.00%
NTI Asean LLC [Member]
Subsidiary, Ownership Percentage, Parent			60.00%
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life			30 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life			10 years
Maximum [Member] \| Various Joint Ventures [Member]
Subsidiary, Ownership Percentage, Parent			50.00%
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life			5 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life			3 years

Note 11 - Net Income Per Common Share

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

9.	NET INCOME PER COMMON SHARE

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per share assumes the exercise of stock options using the treasury stock method, if dilutive.

The following is a reconciliation of the net income per share computation for fiscal 2023 and fiscal 2022:

Numerator:	August 31, 2023		August 31, 2022
Net income attributable to NTIC	$	2,912,276	$	6,324,700

Denominator:
Basic-weighted shares outstanding		9,359,504		9,216,216
Weighted shares assumed upon exercise of stock options		333,978		418,812
Diluted – weighted shares outstanding		9,693,482		9,635,028

Basic net income per share:	$	0.31	$	0.69
Diluted net income per share:	$	0.30	$	0.66

The dilutive impact summarized above relates to the periods when the average market price of the Company’s common stock exceeded the exercise price of the potentially dilutive option securities granted. Net income per common share was based on the weighted average number of common shares outstanding during the periods when computing the basic net income per share. When dilutive, stock options are included as equivalents using the treasury stock market method when computing the diluted net income per share. Excluded from the computation of diluted net income per share as of August 31, 2023 were options outstanding to purchase 322,246 shares of common stock. Excluded from the computation of diluted net income per share as of August 31, 2022 were options outstanding to purchase 600,094 shares of common stock.

Note 16 - Commitments and Contingencies - Future Minimum Rents Due (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Fiscal 2024	$ 340,799
Fiscal 2025	93,568
Fiscal 2026	11,166
Thereafter	9,639
Total future minimum lease payments	455,172
Less amount representing interest	(26,298)
Present value of obligations under operating leases	428,874	$ 557,571
Less current portion	(340,799)	(373,330)
Long-term operating lease obligations	$ 88,075	$ 184,241

Note 8 - Stockholders' Equity - Cash Dividends Declared (Details) - $ / shares									12 Months Ended
	Jul. 20, 2023	Apr. 21, 2023	Jan. 10, 2023	Oct. 20, 2022	Jul. 20, 2022	Apr. 22, 2022	Jan. 21, 2022	Oct. 20, 2021	Aug. 31, 2023	Aug. 31, 2022
Amount, per share (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.28	$ 0.28
Record date	Aug. 02, 2023	May 03, 2023	Feb. 01, 2023	Nov. 03, 2022	Aug. 03, 2022	May 04, 2022	Feb. 02, 2022	Nov. 03, 2021
Payable date	Aug. 16, 2023	May 17, 2023	Feb. 15, 2023	Nov. 16, 2022	Aug. 17, 2022	May 18, 2022	Feb. 16, 2022	Nov. 17, 2021

Note 5 - Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Gross Carrying Amount	$ 9,686,717	$ 9,572,655
Accumulated Amortization	(3,527,232)	(2,938,777)
Net Carrying Amount	6,159,485	6,633,878
Intangible asset, net	6,159,485	6,633,878
Patents and Trademarks [Member]
Gross Carrying Amount	3,339,717	3,225,655
Accumulated Amortization	(2,680,965)	(2,515,644)
Net Carrying Amount	658,752	710,011
Intangible asset, net	658,752	710,011
Customer Relationships [Member]
Gross Carrying Amount	6,347,000	6,347,000
Accumulated Amortization	(846,267)	(423,133)
Net Carrying Amount	5,500,733	5,923,867
Intangible asset, net	$ 5,500,733	$ 5,923,867

Note 16 - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Finance and Operating Lease, Weighted Average Remaining Lease Term	1 year 2 months 15 days
Operating Lease, Weighted Average Discount Rate, Percent	7.60%
Operating Lease, Expense	$ 373,330	$ 272,336
Accrued Bonuses	$ 2,000,000	$ 1,733,336
Entity Wide Trade Joint Venture Receivables, Three Joint Ventures, Percentage	40.10%	46.60%
Stock Options Granted to Management [Member]
Accrued Bonuses	$ 800,000	$ 533,336
Paid Out in Cash and Profit Sharing [Member]
Accrued Bonuses	$ 1,200,000	$ 1,200,000
Fiscal 2018 Bonus Plan [Member] \| Executive Officer [Member]
Percentage of Individual Bonus Payout Determined by Actual Versus Targeted EBITOI Results	75.00%
Percentage of Individuals Payout Determined Upon Achievement of Certain Pre-Established Individual Performance Objectives	25.00%

Note 3 - Inventories (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	August 31, 2023		August 31, 2022
Production materials	$	4,960,355	$	6,496,656
Finished goods		8,136,134		9,845,073
	$	13,096,489	$	16,341,729

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
NET INCOME	$ 4,237,731	$ 7,185,934
OTHER COMPREHENSIVE INCOME (LOSS) – FOREIGN CURRENCY TRANSLATION ADJUSTMENT	445,338	(3,912,128)
COMPREHENSIVE INCOME	4,683,069	3,273,806
LESS: COMPREHENSIVE LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	(1,349,064)	(669,208)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NTIC	$ 3,334,005	$ 2,604,598

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Note 6 - Investments in Joint Ventures - Condensed Balance Sheet of EXCOR and All Other Joint Ventures (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Current assets	$ 39,671,556	$ 40,234,881
Total assets	89,344,303	86,193,953
Current liabilities	16,721,372	17,065,401
Noncurrent liabilities	1,924,134	1,884,256
Joint ventures’ equity	66,356,273	63,595,262
Investments in joint ventures	23,705,714	21,814,754
EXCOR and All Other Joint Venturs [Member]
Investments in joint ventures	23,705,714	21,814,754
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	20,493,861	21,256,923
EXCOR [Member]
Investments in joint ventures	13,683,608	12,494,320
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	12,075,524	12,463,415
All Other [Member]
Investments in joint ventures	10,022,106	9,320,434
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	8,418,337	8,793,508
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Current assets	55,339,662	52,428,831
Total assets	59,729,348	55,854,457
Current liabilities	11,464,247	10,981,833
Noncurrent liabilities	323,762	1,138,980
Joint ventures’ equity	47,941,339	43,733,644,000
EXCOR [Member]
Current assets	27,862,458	26,047,914
Total assets	30,054,277	27,932,532
Current liabilities	2,687,064	2,943,895
Noncurrent liabilities	0	0
Joint ventures’ equity	27,367,213	24,988,637,000
Joint Ventures in France [Member]
Current assets		26,380,917
Total assets		27,921,925
Current liabilities		8,037,938
Noncurrent liabilities		1,138,980
Joint ventures’ equity		$ 18,745,007,000
All Other [Member]
Current assets	27,477,204
Total assets	29,675,071
Current liabilities	8,777,183
Noncurrent liabilities	323,762
Joint ventures’ equity	$ 20,574,126

Consolidated Balance Sheets - USD ($)	Aug. 31, 2023	Aug. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 5,406,173	$ 5,333,890
Available for sale securities	0	5,590
Receivables:
Trade excluding joint ventures, less allowance for doubtful accounts of $533,000 and $439,000 as of August 31, 2023 and 2022, respectively	15,645,130	14,136,930
Trade, joint ventures	187,912	697,861
Fees for services provided to joint ventures	1,296,594	1,765,117
Dividend receivable from joint venture	1,986,027	0
Income taxes	34,202	0
Inventories	13,096,489	16,341,729
Prepaid expenses	2,019,029	1,953,764
Total current assets	39,671,556	40,234,881
PROPERTY AND EQUIPMENT, NET	14,065,354	12,170,493
OTHER ASSETS:
Investments in joint ventures	23,705,714	21,814,754
Deferred income tax, net	530,944	0
Intangible asset, net	6,159,485	6,633,878
Goodwill	4,782,376	4,782,376
Operating lease right of use assets	428,874	557,571
Total other assets	35,607,393	33,788,579
Total assets	89,344,303	86,193,953
CURRENT LIABILITIES:
Line of credit	3,600,000	5,900,000
Term loan	2,757,176	0
Accounts payable	6,056,329	7,796,494
Income taxes payable	13,053	30,742
Accrued liabilities:
Payroll and related benefits	2,305,400	2,297,543
Other	1,648,615	667,292
Current portion of operating leases	340,799	373,330
Total current liabilities	16,721,372	17,065,401
LONG-TERM LIABILITIES:
Deferred income tax, net	1,836,059	1,700,015
Operating leases, less current portion	88,075	184,241
Total long-term liabilities	1,924,134	1,884,256
Commitments and Contingencies
EQUITY:
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding	0	0
Common stock, $0.02 par value per share; authorized 15,000,000 shares; issued and outstanding 9,424,101 and 9,232,483, respectively	188,482	184,650
Additional paid-in capital	21,986,767	19,939,131
Retained earnings	51,004,427	50,716,613
Accumulated other comprehensive loss	(6,823,403)	(7,245,132)
Stockholders’ equity	66,356,273	63,595,262
Non-controlling interests	4,342,524	3,649,034
Total equity	70,698,797	67,244,296
Total liabilities and equity	89,344,303	86,193,953
Intangible Assets Excluding Patents and Trademarks [Member]
OTHER ASSETS:
Intangible asset, net	5,500,733	5,923,867
Patents and Trademarks [Member]
OTHER ASSETS:
Intangible asset, net	$ 658,752	$ 710,011

Note 10 - Stock-based Compensation (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Fiscal Year 2023			Fiscal Year 2022
Dividend yield		2.44	%		1.65	%
Expected volatility		45.2	%		45.4	%
Expected life of option (years)	10			10
Weighted average risk-free interest rate		3.31	%		0.77	%

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

	Number of Shares (#)			Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at August 31, 2021		1,426,651		$	9.30
Options granted		174,840			16.97
Options exercised		(51,218	)		6.60
Options terminated		(5,546	)		18.23

Outstanding at August 31, 2022		1,544,727		$	10.23
Options granted		277,613			11.41
Options exercised		(265,209	)		6.46
Options terminated		-			-

Outstanding at August 31, 2023		1,557,130		$	11.08	$	4,240,525

Exercisable at August 31, 2023		1,079,897		$	10.77	$	3,329,061

Note 11 - Net Income Per Common Share (Details Textual) - shares	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	322,246	600,094

Note 10 - Stock-based Compensation - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Outstanding at August 31, 2021 (in shares)	1,544,727	1,426,651
Outstanding at August 31, 2021 (in dollars per share)	$ 10.23	$ 9.3
Options granted (in shares)	277,613	174,840
Options granted (in dollars per share)	$ 11.41	$ 16.97
Options exercised (in shares)	(265,209)	(51,218)
Options exercised (in dollars per share)	$ 6.46	$ 6.6
Options terminated (in shares)	0	(5,546)
Options terminated (in dollars per share)	$ 0	$ 18.23
Outstanding at August 31, 2022 (in shares)	1,557,130	1,544,727
Outstanding at August 31, 2022 (in dollars per share)	$ 11.08	$ 10.23
Outstanding at August 31, 2023	$ 4,240,525
Exercisable at August 31, 2023 (in shares)	1,079,897
Exercisable at August 31, 2023 (in dollars per share)	$ 10.77
Exercisable at August 31, 2023	$ 3,329,061

Note 14 - Retirement Plan (Details Textual) - USD ($)	12 Months Ended
Note 14 - Retirement Plan (Details Textual) - USD ($)	Aug. 31, 2022	Aug. 31, 2021
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	15.00%
Defined Contribution Plan Maximum Amount of Employees Contributions Percent	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.50%
Defined Contribution Plan, Cost	$ 289,235	$ 272,257

Note 18 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value Recurring Basis (Details)	Aug. 31, 2022 USD ($)
Available for sale securities	$ 5,590
Fair Value, Inputs, Level 1 [Member]
Available for sale securities	5,590
Fair Value, Inputs, Level 2 [Member]
Available for sale securities	0
Fair Value, Inputs, Level 3 [Member]
Available for sale securities	$ 0

Note 6 - Investments in Joint Ventures (Details Textual)	1 Months Ended
	Aug. 31, 2023 USD ($)
NTI Asean LLC [Member]
Subsidiary, Ownership Percentage, Parent	60.00%
Tianjin Zerust [Member]
Equity Method Investment, Deferred Gain on Sale	$ 676,614
Tianjin Zerust [Member] \| NTI Asean LLC [Member]
Equity Method Investment, Deferred Gain on Sale	1,986,027
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation	198,603
Legal Fees	95,890
Management Bonus Expense	$ 250,000

Note 2 - Accounting Pronouncements

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Accounting Standards Update and Change in Accounting Principle [Text Block]

2.	ACCOUNTING PRONOUNCEMENTS

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, which revises guidance for the accounting for credit losses on financial instruments within its scope, and in November 2018, issued ASU No. 2018-19 and in April 2019, issued ASU No. 2019-04 and in May 2019, issued ASU No. 2019-05, and in November 2019, issued ASU No. 2019-11, which amended the standard. The new standard introduces an approach, based on expected losses, to estimate credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. The new approach to estimating credit losses (referred to as the current expected credit losses model) applies to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt securities, net investments in leases and off-balance-sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Entities are required to apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company does not believe this accounting pronouncement will have a material impact on the Company’s consolidated financial position or operating results.

Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on the Company’s consolidated financial position or operating results.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Note 17 - Supplemental Cash Flow Information - Supplemental Disclosures of Cash Flow Information (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cash paid for income tax	$ 1,064,894	$ 1,218,467
Cash paid for interest	461,805	89,096
Cash paid for operating leases	$ 373,330	$ 272,336

Note 6 - Investments in Joint Ventures - Condensed Income Statement of EXCOR and All Other Joint Ventures (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Net sales	$ 79,902,952	$ 74,158,890
Gross profit	27,803,831	23,068,592
Net income	2,912,276	6,324,700
Northern Technologies International Corporation’s share of equity in income of joint ventures	6,452,719	4,725,918
EXCOR and All Other Joint Venturs [Member]
Net income	8,934,198	9,302,237
Northern Technologies International Corporation’s share of equity in income of joint ventures	6,452,719	4,725,918
Northern Technologies International Corporation’s dividends received from joint ventures	5,639,198	5,723,176
EXCOR [Member]
Net income	5,730,311	6,487,855
Northern Technologies International Corporation’s share of equity in income of joint ventures	2,852,229	3,236,989
Northern Technologies International Corporation’s dividends received from joint ventures	2,459,500	4,255,200
All Other [Member]
Net income	3,203,887	2,814,382
Northern Technologies International Corporation’s share of equity in income of joint ventures	3,600,490	1,488,929
Northern Technologies International Corporation’s dividends received from joint ventures	3,179,698	1,467,976
EXCOR and All Other Joint Venturs [Member]
Net sales	100,682,316	104,077,748
Gross profit	40,096,561	41,030,647
EXCOR [Member]
Net sales	39,642,380	42,853,162
Gross profit	19,016,389	20,312,400
All Other [Member]
Net sales	61,039,936	61,224,586
Gross profit	$ 21,080,172	$ 20,718,247

Note 5 - Intangible Asset, Net

12 Months Ended

Aug. 31, 2023

Customer Relationships and Assembled Workforce [Member]

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

5.	INTANGIBLE ASSETS, NET

Intangible assets, net consisted of the following:

	As of August 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,339,717	$	(2,680,965	)	$	658,752
Customer relationships		6,347,000		(846,267	)		5,500,733
Total intangible assets, net	$	9,686,717	$	(3,527,232	)	$	6,159,485

	As of August 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,225,655	$	(2,515,644	)	$	710,011
Customer relationships		6,347,000		(423,133	)		5,923,867
Total intangible assets, net	$	9,572,655	$	(2,938,777	)	$	6,633,878

Amortization expense related to intangible assets was $558,454 for fiscal 2023 compared to $629,843 for fiscal 2022.

As of August 31, 2023, future amortization expense related to intangible assets for each of the next five fiscal years and thereafter is estimated as follows:

Fiscal 2024	$	642,951
Fiscal 2025		543,721
Fiscal 2026		517,990
Fiscal 2027		492,221
Fiscal 2028		479,012
Thereafter		3,483,589
Total	$	6,159,485

Note 5 - Intangible Asset, Net (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	As of August 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,339,717	$	(2,680,965	)	$	658,752
Customer relationships		6,347,000		(846,267	)		5,500,733
Total intangible assets, net	$	9,686,717	$	(3,527,232	)	$	6,159,485

	As of August 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,225,655	$	(2,515,644	)	$	710,011
Customer relationships		6,347,000		(423,133	)		5,923,867
Total intangible assets, net	$	9,572,655	$	(2,938,777	)	$	6,633,878

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Fiscal 2024	$	642,951
Fiscal 2025		543,721
Fiscal 2026		517,990
Fiscal 2027		492,221
Fiscal 2028		479,012
Thereafter		3,483,589
Total	$	6,159,485

Note 4 - Property and Equipment, Net (Details Textual)		12 Months Ended
Note 4 - Property and Equipment, Net (Details Textual)	Feb. 28, 2023 USD ($) ft²	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)
Payments to Acquire Property, Plant, and Equipment		$ 3,247,652	$ 1,496,674
Depreciation expense		$ 1,042,505	$ 938,489
Property Immediately Adjacent to NTIC’s Headquarters in Circle Pines, Minnesota [Member]
Area of Real Estate Property \| ft²	26,000
Payments to Acquire Property, Plant, and Equipment	$ 1,200,000

Note 11 - Segment and Geographic Information

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

11.

SEGMENT AND GEOGRAPHIC INFORMATION

Segment Information

The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s business is organized into two reportable segments: ZERUST® and Natur-Tec®. The Company has been selling its proprietary ZERUST® rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military, and retail consumer markets for almost 50 years and, more recently, has also expanded into the oil and gas industry. The Company also sells a portfolio of proprietary bio-based and compostable (fully biodegradable) polymer resins and finished products under the Natur-Tec® brand.

The following tables present the Company’s business segment information:

	Fiscal 2023		Fiscal 2022
ZERUST® net sales	$	61,728,364	$	57,459,382
Natur-Tec® net sales		18,174,588		16,699,508
Total net sales	$	79,902,952	$	74,158,890

The following table sets forth the Company’s cost of goods sold by segment:

	Fiscal 2023		Fiscal 2022
Direct cost of goods sold
ZERUST®	$	35,297,352	$	34,673,146
Natur-Tec®		13,645,992		12,859,343
Indirect cost of goods sold		3,155,777		3,557,809
Total net cost of goods sold	$	52,099,121	$	51,090,298

The Company utilizes product net sales and direct and indirect cost of goods sold for each product in reviewing the financial performance of a product type. Further allocation of Company expenses or assets, aside from amounts presented in the tables above, is not utilized in evaluating product performance, nor does such allocation occur for internal financial reporting.

Sales to the Company’s joint ventures are included in the foregoing geographic and segment information, however, sales by the Company’s joint ventures to other parties are not included. The foregoing geographic and segment information represents only sales and cost of goods sold recognized directly by the Company.

All joint venture operations, including equity in income, fees for services, and related dividends, are related to ZERUST®products and services.

Geographic Information

Net sales by geographic location for fiscal 2023 and fiscal 2022 were as follows:

	Fiscal Year Ended August 31,
	2023		2022
Inside the U.S.A. to unaffiliated customers	$	28,554,354	$	25,301,067
Outside the U.S.A. to:
Joint ventures in which the Company is a shareholder directly and indirectly		3,401,910		2,968,089
Unaffiliated customers		47,946,688		45,889,734
	$	79,902,952	$	74,158,890

Net sales by geographic location are based on the location of the customer.

Fees for services provided to joint ventures by geographic location as a percentage of total fees for services provided to joint ventures during fiscal 2023 and fiscal 2022, respectively, were as follows:

	Fiscal 2023		% of Total Fees for Services Provided to Joint Ventures			Fiscal 2022		% of Total Fees for Services Provided to Joint Ventures
Germany	$	816,089		15.7	%	$	834,725		14.5	%
Poland		810,977		15.6	%		730,523		12.7	%
Japan		658,934		12.7	%		669,371		11.6	%
Sweden		498,463		9.6	%		447,441		7.8	%
France		479,515		9.2	%		448,579		7.8	%
Finland		388,627		7.5	%		340,783		5.9	%
Czech Republic		365,018		7.0	%		300,257		5.2	%
Thailand		340,657		6.6	%		344,649		6.0	%
United Kingdom		283,418		5.5	%		342,488		5.9	%
South Korea		266,562		5.1	%		270,309		4.7	%
Indonesia		130,081		2.5	%		156,476		2.7	%
Other		150,844		3.0	%		882,081		15.2	%
	$	5,189,185		100.0	%	$	5,767,682		100.0	%

Sales to the Company’s joint ventures are included in the foregoing segment and geographic information; however, sales by the Company’s joint ventures to other parties are not included. The foregoing segment and geographic information represents only sales recognized directly by the Company and sold in that geographic territory.

See Note 6 for additional details on geographical information regarding equity in income from joint ventures.

The geographical distribution of total property and equipment and net sales is as follows:

	At August 31, 2023		At August 31, 2022
China	$	5,729,080	$	5,826,898
Other		745,469		565,022
United States		7,590,805		5,778,573
Total property and equipment	$	14,065,354	$	12,170,493

	Fiscal Year Ended August 31, 2023		Fiscal Year Ended August 31, 2022
China	$	13,469,075	$	15,754,051
Brazil		5,969,314		5,160,572
India		19,916,834		18,555,603
Other		11,993,375		9,387,597
United States		28,554,354		25,301,067
Total net sales	$	79,902,952	$	74,158,890

Long-lived assets consist of property and equipment. These assets are periodically reviewed to assure the net realizable value from the estimated future production based on forecasted sales exceeds the carrying value of the assets.

All joint venture operations, including equity in income, fees for services and related dividends, are primarily related to ZERUST®products and services.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Note 6 - Investments in Joint Ventures (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Condensed Balance Sheet [Table Text Block]

	As of August 31, 2023
	Total		EXCOR		OTHER
Current assets	$	55,339,662	$	27,862,458	$	27,477,204
Total assets		59,729,348		30,054,277		29,675,071
Current liabilities		11,464,247		2,687,064		8,777,183
Noncurrent liabilities		323,762		-		323,762
Joint ventures’ equity		47,941,339		27,367,213		20,574,126
Northern Technologies International Corporation’s share of joint ventures’ equity		23,705,714		13,683,608		10,022,106
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		20,493,861		12,075,524		8,418,337

	As of August 31, 2022
	Total		EXCOR		OTHER
Current assets	$	52,428,831	$	26,047,914	$	26,380,917
Total assets		55,854,457		27,932,532		27,921,925
Current liabilities		10,981,833		2,943,895		8,037,938
Noncurrent liabilities		1,138,980		-		1,138,980
Joint ventures’ equity		43,733,644		24,988,637		18,745,007
Northern Technologies International Corporation’s share of joint ventures’ equity		21,814,754		12,494,320		9,320,434
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		21,256,923		12,463,415		8,793,508

Condensed Income Statement [Table Text Block]

	Fiscal Year Ended August 31, 2023
	Total		EXCOR		OTHER
Net sales	$	100,682,316	$	39,642,380	$	61,039,936
Gross profit		40,096,561		19,016,389		21,080,172
Net income		8,934,198		5,730,311		3,203,887
Northern Technologies International Corporation’s share of equity in income of joint ventures		6,452,719		2,852,229		3,600,490
Northern Technologies International Corporation’s dividends received from joint ventures		5,639,198		2,459,500		3,179,698

	Fiscal Year Ended August 31, 2022
	Total		EXCOR		OTHER
Net sales	$	104,077,748	$	42,853,162	$	61,224,586
Gross profit		41,030,647		20,312,400		20,718,247
Net income		9,302,237		6,487,855		2,814,382
Northern Technologies International Corporation’s share of equity in income of joint ventures		4,725,918		3,236,989		1,488,929
Northern Technologies International Corporation’s dividends received from joint ventures		5,723,176		4,255,200		1,467,976

Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]

Revenue [Policy Text Block]

The timing of revenue recognition, billing, and cash collections results in accounts receivable on the consolidated balance sheet.

service consultants work directly with the end users of NTIC’s ZERUST® rust and corrosion inhibiting products to

analyze their specific needs and develop systems to meet their performance requirements.

Receivable [Policy Text Block]

Employee Retention Credit [Policy Text Block]

Receivables from Joint Ventures Policy [Policy Text Block ]

Cash and Cash Equivalents, Policy [Policy Text Block]

Marketable Securities, Policy [Policy Text Block]

Available for Sale Securities – Available for sale securities are recorded at fair value. Unrealized holding gains and losses on available for sale securities are not significant.

Inventory, Policy [Policy Text Block]

Inventories – Inventories are recorded at the lower of cost (first-in, first-out basis) or net realizable value.

Property, Plant and Equipment, Policy [Policy Text Block]

Buildings and improvements	5-30 years
Machinery and equipment	3-10 years

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Equity Method Investments [Policy Text Block]

The Company classifies distributions received from its joint ventures based on the nature of the distributions, generally, in operating activities on the consolidated statements of cash flows.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Business Combinations Policy [Policy Text Block]

Goodwill and Intangible Assets, Policy [Policy Text Block]

Income Tax, Policy [Policy Text Block]

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Fair Value of Financial Instruments, Policy [Policy Text Block]

Shipping and Handling Cost, Policy [Policy Text Block]

Research, Development, and Computer Software, Policy [Policy Text Block]

Research and Development – The Company expenses all costs related to product research and development as incurred.

Stockholders' Equity, Policy [Policy Text Block]

Common Stock – The Company issues authorized but unissued shares of common stock upon the exercise of stock options.

Share-Based Payment Arrangement [Policy Text Block]

Subsequent Events, Policy [Policy Text Block]

Subsequent Events – The Company has evaluated events occurring after the date of the consolidated financial statements for events requiring disclosure in the consolidated financial statements.

Use of Estimates, Policy [Policy Text Block]

Note 11 - Net Income Per Common Share (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Numerator:	August 31, 2023		August 31, 2022
Net income attributable to NTIC	$	2,912,276	$	6,324,700

Denominator:
Basic-weighted shares outstanding		9,359,504		9,216,216
Weighted shares assumed upon exercise of stock options		333,978		418,812
Diluted – weighted shares outstanding		9,693,482		9,635,028

Basic net income per share:	$	0.31	$	0.69
Diluted net income per share:	$	0.30	$	0.66

Consolidated Balance Sheets (Parentheticals) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 533,000	$ 439,000
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Authorized (in shares)	10,000	10,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.02	$ 0.02
Common Stock, Shares Authorized (in shares)	15,000,000	15,000,000
Common Stock, Shares, Issued (in shares)	9,424,101	9,232,483
Common Stock, Shares, Outstanding (in shares)	9,424,101	9,232,483

Note 18 - Fair Value Measurements

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]

18.

FAIR VALUE MEASUREMENTS

Assets and liabilities that are measured at fair value on a recurring basis primarily relate to marketable equity securities. These items are marked-to-market at each reporting period, and the Company estimates that market value approximates costs.

The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis:

Fair Value Measurements

Using Inputs Considered as

Fair value as of

August 31, 2022

Level 1

Level 2

Level 3

Available for sale securities

5,590

—

There were no transfers between Level 1, Level 2, or Level 3 during the fiscal year ended August 31, 2023 or 2022.

Note 15- Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 15- Income Taxes (Details Textual) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Foreign Withholding Tax	$ 51,600	$ 8,000
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	748,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	290,000
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	492,500
Tax Credit Carryforward, Valuation Allowance	11,933,700	11,592,900
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	340,800	145,400
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0	$ 0
Foreign Tax Authority [Member]
Tax Credit Carryforward, Amount	4,036,000
Federal and State Tax [Member]
Tax Credit Carryforward, Amount	$ 4,503,600

Note 11 - Segment and Geographic Information (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

	Fiscal 2023		Fiscal 2022
ZERUST® net sales	$	61,728,364	$	57,459,382
Natur-Tec® net sales		18,174,588		16,699,508
Total net sales	$	79,902,952	$	74,158,890

	Fiscal 2023		% of Total Fees for Services Provided to Joint Ventures			Fiscal 2022		% of Total Fees for Services Provided to Joint Ventures
Germany	$	816,089		15.7	%	$	834,725		14.5	%
Poland		810,977		15.6	%		730,523		12.7	%
Japan		658,934		12.7	%		669,371		11.6	%
Sweden		498,463		9.6	%		447,441		7.8	%
France		479,515		9.2	%		448,579		7.8	%
Finland		388,627		7.5	%		340,783		5.9	%
Czech Republic		365,018		7.0	%		300,257		5.2	%
Thailand		340,657		6.6	%		344,649		6.0	%
United Kingdom		283,418		5.5	%		342,488		5.9	%
South Korea		266,562		5.1	%		270,309		4.7	%
Indonesia		130,081		2.5	%		156,476		2.7	%
Other		150,844		3.0	%		882,081		15.2	%
	$	5,189,185		100.0	%	$	5,767,682		100.0	%

Reconciliation of Cost of Goods Sold from Segments to Consolidated [Table Text Block]

	Fiscal 2023		Fiscal 2022
Direct cost of goods sold
ZERUST®	$	35,297,352	$	34,673,146
Natur-Tec®		13,645,992		12,859,343
Indirect cost of goods sold		3,155,777		3,557,809
Total net cost of goods sold	$	52,099,121	$	51,090,298

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]

	Fiscal Year Ended August 31,
	2023		2022
Inside the U.S.A. to unaffiliated customers	$	28,554,354	$	25,301,067
Outside the U.S.A. to:
Joint ventures in which the Company is a shareholder directly and indirectly		3,401,910		2,968,089
Unaffiliated customers		47,946,688		45,889,734
	$	79,902,952	$	74,158,890

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	At August 31, 2023		At August 31, 2022
China	$	5,729,080	$	5,826,898
Other		745,469		565,022
United States		7,590,805		5,778,573
Total property and equipment	$	14,065,354	$	12,170,493

Revenue from External Customers by Geographic Areas [Table Text Block]

	Fiscal Year Ended August 31, 2023		Fiscal Year Ended August 31, 2022
China	$	13,469,075	$	15,754,051
Brazil		5,969,314		5,160,572
India		19,916,834		18,555,603
Other		11,993,375		9,387,597
United States		28,554,354		25,301,067
Total net sales	$	79,902,952	$	74,158,890

Note 14 - Related Party Transactions

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

14.

RELATED PARTY TRANSACTIONS

During both fiscal 2023 and fiscal 2022, the Company made consulting payments of $144,000 to Bioplastic Polymers LLC, an entity owned by Ramani Narayan, Ph.D., a director of the Company. Dr. Narayan provides certain consulting services to the Company relating to the Natur-Tec® business and bioplastics program.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

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+ Details

Note 19 - Subsequent Events (Details Textual) - $ / shares										12 Months Ended
	Oct. 18, 2023	Jul. 20, 2023	Apr. 21, 2023	Jan. 10, 2023	Oct. 20, 2022	Jul. 20, 2022	Apr. 22, 2022	Jan. 21, 2022	Oct. 20, 2021	Aug. 31, 2023	Aug. 31, 2022
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)		$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.28	$ 0.28
Subsequent Event [Member]
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.07

Note 4 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Land	$ 496,965	$ 310,365
Buildings and improvements	17,250,392	14,778,759
Machinery and equipment	5,984,364	5,643,320
Property, Plant and Equipment, Gross	23,731,721	20,732,444
Less accumulated depreciation	(9,666,367)	(8,561,951)
Property, Plant and Equipment, Net	$ 14,065,354	$ 12,170,493

Note 19 - Subsequent Events

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Subsequent Events [Text Block]

19.

SUBSEQUENT EVENTS

On October 18, 2023, the Company’s Board of Directors declared a cash dividend of $0.07 per share of the Company’s common stock, payable on November 15, 2023 to stockholders of record on November 1, 2023. The declaration of future dividends is not guaranteed and will be determined by the Company’s Board of Directors in light of conditions then existing, including the Company’s earnings, financial condition, cash requirements, restrictions in financing agreements, business conditions, and other factors, including without limitation the effect of COVID-19 on its business, operating results, and financial condition.

Note 15 - Income Taxes - Reconciliations of the Expected Federal Income Tax at the Statutory Rate with the Provisions for Income Taxes (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Tax computed at statutory rates	$ 1,352,000	$ 1,780,000
State income tax, net of federal benefit	(20,000)	34,000
Tax effect on equity in income of international joint ventures	(1,354,000)	(988,000)
Tax effect of foreign operations	1,005,000	1,004,000
Deemed repatriation	0	10,000
Foreign tax credit	783,000	0
Research and development credit	(710,000)	(244,000)
Valuation allowance	354,000	133,000
Stock based compensation	31,000	67,000
Non-controlling interest	(59,000)	(72,000)
Prior year true-up	(51,000)	0
Other	18,600	149,836
Income Tax Expense (Benefit)	$ 1,349,600	$ 1,873,836

Note 10 - Stockholders' Equity

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Equity [Text Block]

8.	STOCKHOLDERS’ EQUITY

During fiscal 2023, NTIC’s Board of Directors declared cash dividends on the following dates in the following amounts to holders of record of NTIC common stock as of the following record dates:

Declaration Date	Amount	Record Date	Payable Date
October 20, 2022	$0.07	November 3, 2022	November 16, 2022
January 20, 2023	$0.07	February 1, 2023	February 15, 2023
April 21, 2023	$0.07	May 3, 2023	May 17, 2023
July 17, 2023	$0.07	August 2, 2023	August 16, 2023

During fiscal 2022, NTIC’s Board of Directors declared cash dividends on the following dates in the following amounts to holders of record of NTIC common stock as of the following record dates:

Declaration Date	Amount	Record Date	Payable Date
October 20, 2021	$0.07	November 3, 2021	November 17, 2021
January 21, 2022	$0.07	February 2, 2022	February 16, 2022
April 22, 2022	$0.07	May 4, 2022	May 18, 2022
July 20, 2022	$0.07	August 3, 2022	August 17, 2022

During fiscal 2023 and fiscal 2022, the Company repurchased no shares of its common stock.

During fiscal 2023, the Company granted stock options under the Northern Technologies International Corporation 2019 Stock Incentive Plan (as amended, the 2019 Plan) to purchase an aggregate of 277,613 shares of its common stock to various employees and directors. The weighted average per share exercise price of the stock options is $11.41. The exercise price of the stock options is equal to the fair market value of the Company’s common stock on the date of grant. During fiscal 2023, stock options to purchase an aggregate of 265,209 shares of common stock were exercised at a weighted average exercise price of $6.46 per share, resulting in the net issuance of 184,432 shares of common stock since some of the options were exercised on a net cashless exercise basis.

During fiscal 2022, the Company granted stock options under the Northern Technologies International Corporation 2019 Stock Incentive Plan (as amended, the 2019 Plan) to purchase an aggregate of 174,840 shares of its common stock to various employees and directors. The weighted average per share exercise price of the stock options is $16.97. The exercise price of the stock options is equal to the fair market value of the Company’s common stock on the date of grant. During fiscal 2022, stock options to purchase an aggregate of 51,218 shares of common stock were exercised at a weighted average exercise price of $6.60 per share, resulting in the net issuance of 42,071 shares of common stock since some of the options were exercised on a net cashless exercise basis.

The Company issued 3,620 and 2,636 shares of common stock on September 1, 2022 and 2021, respectively, under the Northern Technologies International Corporation Employee Stock Purchase Plan (ESPP). The Company issued 3,566 and 2,966 shares of common stock on March 1, 2023 and 2022, respectively, under the ESPP. The ESPP is compensatory for financial reporting purposes. As of August 31, 2023, 62,035 shares of common stock remained available for sale under the ESPP.

- Definition

The entire disclosure for equity.

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+ Details

Note 14 - Retirement Plan

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

13.

RETIREMENT PLAN

The Company has a 401(k) employee savings plan. Employees who meet certain age and service requirements may elect to contribute up to 15% of their salaries. The Company typically contributes the lesser of 50% of the participant’s contributions or 3.5% of the employee’s salary. The Company recognized expense for the savings plan of $289,235 and $272,257 for fiscal 2023 and fiscal 2022, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Note 11 - Segment and Geographic Information - Net Sales by Geographic Location (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Net sales	$ 79,902,952	$ 74,158,890
Inside the USA to Unaffiliated Customers [Member]
Net sales	28,554,354	25,301,067
Joint Ventures in Which the Company is a Shareholder Directly and Indirectly Outside the USA [Member]
Net sales	3,401,910	2,968,089
Unaffiliated Customers Outside the USA [Member]
Net sales	$ 47,946,688	$ 45,889,734

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Note 5 - Intangible Asset, Net (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Amortization of Intangible Assets	$ 558,454	$ 629,843

Note 3 - Inventories

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Inventory Disclosure [Text Block]

3.	INVENTORIES

Inventories consisted of the following:

	August 31, 2023		August 31, 2022
Production materials	$	4,960,355	$	6,496,656
Finished goods		8,136,134		9,845,073
	$	13,096,489	$	16,341,729

Note 17 - Supplemental Cash Flow Information (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	Fiscal Year Ended August 31,
	2023		2022
Cash paid for income tax	$	1,064,894	$	1,218,467
Cash paid for interest		461,805		89,096
Cash paid for operating leases		373,330		272,336

Note 10 - Stock-based Compensation (Details Textual) - USD ($)		12 Months Ended
	Jan. 15, 2021	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number		1,557,130	1,544,727	1,426,651
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		277,613	174,840
Share-Based Payment Arrangement, Expense		$ 1,337,734	$ 931,532
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		1,019,291
Allocated Share-based Compensation Expense, Estimate Next Twelve Months		682,724
Allocated Share-based Compensation Expense, Estimate, Fiscal Year Two		$ 336,567
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 11.41	$ 16.97
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)		6 years 3 months	5 years 9 months 3 days
The 2019 Plan [member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	800,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized		1,600,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number		1,117,570
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		426,904
The 2007 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number		439,560

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Aug. 31, 2023	Nov. 10, 2023	Feb. 28, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Aug. 31, 2023
Document Transition Report	false
Entity File Number	001-11038
Entity Registrant Name	NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0857886
Entity Address, Address Line One	4201 Woodland Road
Entity Address, City or Town	Circle Pines
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55014
City Area Code	763
Local Phone Number	225-6600
Title of 12(b) Security	Common stock, par value $0.02 per share
Trading Symbol	NTIC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 100.9
Entity Common Stock, Shares Outstanding (in shares)		9,427,599
Auditor Firm ID	23
Auditor Name	Baker Tilly US, LLP
Auditor Location	Minneapolis, Minnesota
Entity Central Index Key	0000875582
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Note 15 - Income Taxes - Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Federal	$ 0	$ 0
State	26,000	98,000
Foreign	1,857,000	1,894,000
Current Income Tax Expense (Benefit)	1,883,000	1,992,000
Federal	0	0
State	0	0
Foreign	(533,400)	(118,164)
Deferred Income Tax Expense (Benefit)	(533,400)	(118,164)
Income Tax Expense (Benefit)	$ 1,349,600	$ 1,873,836

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 4 - Property and Equipment, Net (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Property, Plant and Equipment [Table Text Block]

	August 31, 2023			August 31, 2022
Land	$	496,965		$	310,365
Buildings and improvements		17,250,392			14,778,759
Machinery and equipment		5,984,364			5,643,320
		23,731,721			20,732,444
Less accumulated depreciation		(9,666,367	)		(8,561,951	)
	$	14,065,354		$	12,170,493

Note 18 - Fair Value Measurements (Tables)

12 Months Ended

Aug. 31, 2023

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

Fair Value Measurements

Using Inputs Considered as

Fair value as of

August 31, 2022

Level 1

Level 2

Level 3

Available for sale securities

5,590

—

Note 12 - Employee Retention Credit

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Employee Retention Credit [Text Block]

12.

EMPLOYEE RETENTION CREDIT

The Company engaged tax advisors of a Big 4 accounting firm which determined the Company qualified for Employee Retention Credits. The Company qualified for Employee Retention Credits on qualified wages paid in the first and second quarters of 2021 and filed for credits in the second and third quarters of fiscal 2023, respectively. The Company recognizes government grants for which there is a reasonable assurance of compliance with grant conditions and receipt of credits. In 2023, the Company filed for $1,139,756 in Employee Retention Credits, but did not recognize the credits on the Company’s financial statements as there was not reasonable assurances that the Company would receive the credits.

Note 16 - Commitments and Contingencies - Present Value of Long-term Leases (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Right-of-use assets, net	$ 428,874	$ 557,571
Current portion of lease liability	340,799	373,330
Lease liability, less current portion	88,075	184,241
Total lease liability	$ 428,874	$ 557,571

Note 15 - Income Taxes - Reconciliation of the Total Amounts of Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Stock-based compensation	$ 556,700	$ 547,200
Gross unrecognized tax benefits – beginning balance	319,000	297,600
Foreign tax credit carryforward	4,036,000	4,892,100
Gross increases – prior period tax positions	100	3,400
Capitalized research and experimentation	1,106,000	0
Gross increases – current period tax positions	42,100	18,000
Other credit and loss carryforward	6,034,000	5,455,500
Gross unrecognized tax benefits – ending balance	361,200	319,000
Other	1,048,800	1,095,300
Total deferred tax assets	12,781,500	11,990,100
Valuation allowance	(11,933,700)	(11,592,900)
Total deferred tax assets after valuation allowance	847,800	397,200
Right-of-use asset	(66,200)	(98,300)
Intangible assets	(1,670,700)	(1,777,200)
Unremitted foreign earnings	(214,800)	(163,200)
Other	(201,215)	(58,500)
Total deferred tax liabilities	(2,152,915)	(2,097,200)
Net deferred tax liabilities	$ (1,305,115)	$ (1,700,000)

Note 16 - Commitments and Contingencies

12 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

16.

COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company currently has operating leases for various buildings, equipment and vehicles. These leases are under non-cancelable operating lease agreements with expiration dates between September 30, 2022 and May 31, 2028. The Company has the option to extend certain leases to five or ten-year term(s) and has the right of first refusal on any sale.

The Company records lease liabilities within current liabilities or long-term liabilities based upon the length of time associated with the lease payments. The Company records its long-term operating leases as right-of-use assets. Upon initial adoption, using the modified retrospective transition approach, no leases with terms less than 12 months have been capitalized to the consolidated balance sheet consistent with ASC 842. Instead, these leases are recognized in the consolidated statement of operations on a straight-line expense throughout the lives of the leases. None of the Company’s leases contain common area maintenance or security agreements.

The Company has made certain assumptions and judgments when applying ASC 842, the most significant of which is that the Company elected the package of practical expedients available for transition that allow the Company to not reassess whether expired or existing contracts contain leases under the new definition of a lease, lease classification for expired or existing leases and whether previously capitalized initial direct costs would qualify for capitalization under ASC 842. Additionally, the Company did not elect to use hindsight when considering judgments and estimates such as assessments of lessee options to extend or terminate a lease or purchase the underlying asset. The Company has no contingent rent agreements.

Present Value of Leases

	August 31, 2023		August 31, 2022
Right-of-use assets, net	$	428,874	$	557,571

Current portion of lease liability		340,799		373,330
Lease liability, less current portion		88,075		184,241
Total lease liability	$	428,874	$	557,571

As of August 31, 2023, the weighted-average remaining lease term was 1.21 years. The Company’s lease agreements do not provide a readily determinable implicit rate nor is it available to the Company from its lessors. Instead, as of August 31, 2023, the Company estimates the weighted-average discount rate for its operating leases to be 7.6% to present value based on the incremental borrowing rate.

Future minimum payments as of August 31, 2023 under these long-term operating leases are as follows (in thousands):

Fiscal 2024	$	340,799
Fiscal 2025		93,568
Fiscal 2026		11,166
Thereafter		9,639
Total future minimum lease payments		455,172
Less amount representing interest		(26,298	)
Present value of obligations under operating leases		428,874
Less current portion		(340,799	)
Long-term operating lease obligations	$	88,075

Operating lease cost under these leases was approximately $373,330 and $272,336 as of August 31, 2023 and 2022, respectively.

Annual Bonus Plan

On August 28, 2023, the Compensation Committee of the Board of Directors of the Company approved the material terms of an annual bonus plan for the Company’s executive officers as well as certain officers and employees for the fiscal year ending August 31, 2024. For fiscal 2024, as in past years, the total amount available under the bonus plan for all plan participants, including executive officers, is dependent upon the Company’s earnings before interest, taxes, and other income (EBITOI), as adjusted to take into account amounts to be paid under the bonus plan and certain other adjustments (Adjusted EBITOI). Each plan participant’s percentage of the overall bonus pool is based upon the number of plan participants, the individual’s annual base salary, and the individual’s position and level of responsibility within the Company. In the case of each of the Company’s executive officer participants, 75% of the amount of their individual bonus payout will be determined based upon the Company’s actual EBITOI for fiscal 2024 compared to a pre-established target EBITOI for fiscal 2024, and 25% of the payout will be determined based upon such executive officer’s achievement of certain pre-established individual performance objectives. The payment of bonuses under the plan is discretionary, and bonuses may be paid to executive officer participants in both cash and shares of the Company’s common stock, the exact amount and percentages of which are determined by the Company’s Board of Directors, upon recommendation of the Compensation Committee, after the completion of the Company’s consolidated financial statements for fiscal 2024.

On August 26, 2022, the Compensation Committee of the Board of Directors of the Company approved the material terms of an annual bonus plan for the Company’s executive officers as well as certain officers and employees for the fiscal year ending August 31, 2023. $2,000,000 was recognized for bonuses for the fiscal year ended August 31, 2023, $800,000 of the bonus is comprised of stock options granted to management on September 1, 2022 that will be expensed over three years and $1,200,000 will be paid out in cash and profit sharing subsequent to year end. This is compared to $1,733,336 recognized for bonuses for the fiscal year ended August 31, 2022, $533,336 of the bonus comprised of stock options granted to management on September 1, 2021 and $1,200,000 was paid out in cash and profit sharing subsequent to year end.

Concentrations

Two joint ventures (consisting of the Company’s joint ventures in United States and South Korea) accounted for 40.1% of the Company’s trade joint venture receivables as of August 31, 2023, and two joint ventures (consisting of the Company’s joint ventures in South Korea and Thailand) accounted for 46.6% of the Company’s trade joint venture receivables as of August 31, 2022.

Legal Matters

From time to time, the Company is subject to various other claims and legal actions in the ordinary course of its business. The Company records a liability in its consolidated financial statements for costs related to claims, including future legal costs, settlements and judgments, where the Company has assessed that a loss is probable and an amount could be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The Company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that material loss may have been incurred. In the opinion of management, as of August 31, 2023, the amount of liability, if any, with respect to these matters, individually or in the aggregate, will not materially affect the Company’s consolidated results of operations, financial position, or cash flows.

Note 3 - Inventories - Inventories (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Production materials	$ 4,960,355	$ 6,496,656
Finished goods	8,136,134	9,845,073
Inventory, Net	$ 13,096,489	$ 16,341,729

Note 9 - Corporate Debt (Details Textual) - USD ($)	12 Months Ended
Note 9 - Corporate Debt (Details Textual) - USD ($)	Aug. 31, 2023	Jan. 06, 2023
Line of Credit Facility, Interest Rate at Period End	6.27%
Line of Credit Facility, Interest Rate During Period	2.74%
Revolving Credit Facility [Member] \| JP Morgan Chase Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 10,000,000
Long-Term Line of Credit	$ 3,600,000
Debt Instrument, Covenants, Fixed Charge Coverage Ratio	0.000125
Revolving Credit Facility [Member] \| JP Morgan Chase Bank [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Revolving Credit Facility [Member] \| JP Morgan Chase Bank [Member] \| Adjusted SOFR Rate Applicable Margin [Member]
Debt Instrument, Basis Spread on Variable Rate	2.15%
Revolving Credit Facility [Member] \| PNC Bank [Member]
Long-Term Line of Credit	$ 5,900,000
Standby Letters of Credit [Member] \| JP Morgan Chase Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000

Note 11 - Segment and Geographic Information - Total Net Sales by Geographic Distribution (Details) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Net sales	$ 79,902,952	$ 74,158,890
CHINA
Net sales	13,469,075	15,754,051
BRAZIL
Net sales	5,969,314	5,160,572
INDIA
Net sales	19,916,834	18,555,603
Other Countries [Member]
Net sales	11,993,375	9,387,597
UNITED STATES
Net sales	$ 28,554,354	$ 25,301,067

- Definition

+ References

+ Details

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Aug. 31, 2023	Aug. 31, 2022
NET SALES:
Net sales	$ 79,902,952	$ 74,158,890
Cost of goods sold	52,099,121	51,090,298
Gross profit	27,803,831	23,068,592
JOINT VENTURE OPERATIONS:
Equity in income from joint ventures	6,452,719	4,725,918
Fees for services provided to joint ventures	5,189,185	5,767,682
Total joint venture operations	11,641,904	10,493,600
OPERATING EXPENSES:
Selling expenses	15,290,897	13,038,180
General and administrative expenses	13,166,270	10,600,603
Research and development expenses	4,967,922	4,775,334
Total operating expenses	33,425,089	28,414,117
OPERATING INCOME	6,020,646	5,148,075
REMEASUREMENT GAIN ON ACQUISITION OF EQUITY METHOD INVESTEE	0	3,951,550
INTEREST INCOME	28,490	49,241
INTEREST EXPENSE	(461,805)	(89,096)
INCOME BEFORE INCOME TAX EXPENSE	5,587,331	9,059,770
INCOME TAX EXPENSE	1,349,600	1,873,836
NET INCOME	4,237,731	7,185,934
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	1,325,455	861,234
NET INCOME ATTRIBUTABLE TO NTIC	$ 2,912,276	$ 6,324,700
NET INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:
Basic (in dollars per share)	$ 0.31	$ 0.69
Diluted (in dollars per share)	$ 0.3	$ 0.66
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	9,359,504	9,216,216
Diluted (in shares)	9,693,482	9,635,028
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.28	$ 0.28

Note 14 - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Bioplastic Polymers LLC [Member] \| Consulting Payment Expense [Member]
Related Party Transaction, Amounts of Transaction	$ 144,000	$ 144,000