Document And Entity Information
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9 Months Ended | |
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May 31, 2013
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Jul. 12, 2013
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Document and Entity Information [Abstract] | ||
Entity Registrant Name | Northern Technologies International Corporation | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --08-31 | |
Entity Common Stock, Shares Outstanding | 4,428,036 | |
Amendment Flag | false | |
Entity Central Index Key | 0000875582 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | May 31, 2013 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 |
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Consolidated Balance Sheets As of May 31,2013 (Unaudited) and August 31,2012 (Parentheticals) (USD $)
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May 31, 2013
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Aug. 31, 2012
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Trade, allowance (in Dollars) | $ 20,000 | $ 20,000 |
Preferred stock, par value (in Dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized | 10,000 | 10,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value (in Dollars per share) | $ 0.02 | $ 0.02 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,428,036 | 4,403,656 |
Common stock, shares outstanding | 4,428,036 | 4,403,656 |
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Consolidated Statements of Operations (Unaudited) (USD $)
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3 Months Ended | 9 Months Ended | ||
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May 31, 2013
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May 31, 2012
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May 31, 2013
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May 31, 2012
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NET SALES: | ||||
Net sales, excluding joint ventures | $ 5,041,096 | $ 7,175,825 | $ 14,296,686 | $ 15,579,086 |
Net sales, to joint ventures | 835,937 | 629,079 | 2,118,444 | 2,032,260 |
Total net sales | 5,877,033 | 7,804,904 | 16,415,130 | 17,611,346 |
Cost of goods sold | 4,054,364 | 4,143,514 | 11,379,249 | 10,833,072 |
Gross profit | 1,822,669 | 3,661,390 | 4,935,881 | 6,778,274 |
JOINT VENTURE OPERATIONS: | ||||
Equity in income of joint ventures | 1,440,335 | 1,822,972 | 3,733,069 | 4,405,327 |
Fees for services provided to joint ventures | 1,917,947 | 734,337 | 5,535,105 | 3,477,715 |
Total joint venture operations | 3,358,282 | 2,557,309 | 9,268,174 | 7,883,042 |
OPERATING EXPENSES: | ||||
Selling expenses | 1,243,687 | 1,270,996 | 3,588,847 | 3,393,564 |
General and administrative expenses | 1,105,710 | 1,147,744 | 3,498,393 | 3,518,569 |
Expenses incurred in support of joint ventures | 335,132 | 294,169 | 1,026,275 | 729,990 |
Research and development expenses | 1,002,651 | 1,067,454 | 2,853,250 | 2,856,536 |
Total operating expenses | 3,687,180 | 3,780,363 | 10,966,765 | 10,498,659 |
OPERATING INCOME | 1,493,771 | 2,438,336 | 3,337,290 | 4,162,657 |
INTEREST INCOME | 2,984 | 15,726 | 50,618 | 36,417 |
INTEREST EXPENSE | (50,986) | (6,264) | (64,448) | (19,514) |
OTHER INCOME | 6,825 | 20,475 | ||
INCOME BEFORE INCOME TAX EXPENSE | 1,445,769 | 2,454,623 | 3,323,460 | 4,200,035 |
INCOME TAX EXPENSE | 158,000 | 814,000 | 532,000 | 1,020,000 |
NET INCOME | 1,287,769 | 1,640,623 | 2,791,460 | 3,180,035 |
NET INCOME ATTRIBUTABLE TO NON CONTROLLING INTEREST | 360,657 | 186,586 | 1,040,316 | 161,048 |
NET INCOME ATTRIBUTABLE TO NTIC | $ 927,112 | $ 1,454,037 | $ 1,751,144 | $ 3,018,987 |
NET INCOME PER COMMON SHARE: | ||||
Basic (in Dollars per share) | $ 0.21 | $ 0.33 | $ 0.40 | $ 0.69 |
Diluted (in Dollars per share) | $ 0.21 | $ 0.33 | $ 0.39 | $ 0.68 |
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING: | ||||
Basic (in Shares) | 4,421,379 | 4,399,290 | 4,415,452 | 4,379,175 |
Diluted (in Shares) | 4,468,861 | 4,461,044 | 4,464,774 | 4,448,472 |
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Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
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3 Months Ended | 9 Months Ended | ||
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May 31, 2013
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May 31, 2012
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May 31, 2013
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May 31, 2012
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NET INCOME | $ 1,287,769 | $ 1,640,623 | $ 2,791,460 | $ 3,180,035 |
OTHER COMPREHENSIVE INCOME (LOSS) – FOREIGN CURRENCY TRANSLATION ADJUSTMENT | (292,001) | (1,346,222) | 103,543 | (2,600,098) |
COMPREHENSIVE INCOME (LOSS) | 995,768 | 294,401 | 2,895,003 | 579,937 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 352,519 | 156,450 | 1,087,206 | 123,608 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO STOCKHOLDERS | $ 643,249 | $ 137,951 | $ 1,807,797 | $ 456,329 |
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Note 1 - Interim Financial Information
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9 Months Ended | ||
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May 31, 2013
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Disclosure Text Block [Abstract] | |||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
In
the opinion of management, the accompanying unaudited
consolidated financial statements contain all necessary
adjustments, which are of a normal recurring nature, and
present fairly the consolidated financial position of
Northern Technologies International Corporation and its
subsidiaries (the Company) as of May 31, 2013 and
August 31, 2012 and the results of their operations for
the three and nine months ended May 31, 2013 and 2012 and
their cash flows for the nine months ended May 31, 2013 and
2012, in conformity with accounting principles generally
accepted in the United States of America (U.S. GAAP).
Certain
amounts reported in the consolidated financial statements for
the previous reporting periods have been reclassified to
conform to the current period presentation. These
reclassifications did not have a material impact on the
Company’s previously reported consolidated balance
sheets or statements of cash flows.
These
consolidated financial statements should be read in
conjunction with the consolidated financial statements and
related notes contained in the Company’s annual report
on Form 10-K for the fiscal year ended August 31,
2012. These consolidated financial statements also
should be read in conjunction with the
“Management’s Discussion and Analysis of
Financial Condition and Results of Operations” section
appearing in this report.
Operating
results for the three and nine months ended May 31, 2013 are
not necessarily indicative of the results that may be
expected for the full fiscal year ending August 31,
2013.
The
Company evaluates events occurring after the date of the
consolidated financial statements requiring recording or
disclosure in the consolidated financial statements.
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Note 2 - NTI ASEAN
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May 31, 2013
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Business Combination Disclosure [Text Block] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination Disclosure [Text Block] |
NTI
Asean LLC (NTI Asean) is an entity that holds investments in
eight entities operating in the Association of Southeast
Asian Nations (ASEAN) region, including the following
countries: China, Indonesia, Korea, Malaysia, Philippines,
Singapore, Taiwan and Thailand.
Prior
to September 1, 2012, the Company owned 50% of NTI Asean,
which it considered to be less than a majority, of the equity
and voting rights and accounted for its investment using the
equity method. On September 1, 2012, the Company
obtained an additional 10% ownership interest in NTI Asean in
exchange for a license agreement, and thereafter holds 60% of
the equity and voting rights of NTI Asean.
The
Company accounted for the transaction resulting in the
additional ownership as a business
combination. Beginning in the first quarter of
fiscal 2013, the Company consolidated the results of NTI
Asean. Immediately prior to the transaction, the
Company re-measured the fair value of NTI Asean and
determined that there was no difference between the fair
value and the book value of the entity. As a
result, there was no accounting impact related to the
business combination in the consolidated statements of
operations.
The
Company determined the fair value of NTI Asean using the
capitalized income method, including a capitalization rate of
25%. The allocation of the total transaction
amount was as follow:
The
following is a summary of certain line items of the
Company’s consolidated statement of operations for the
three months ended May 31, 2012 as reported and on a pro
forma basis, assuming the consolidation of NTI Asean on the
Company’s consolidated financial statements as of the
beginning of such period:
The
following is a summary of certain line items of the
Company’s consolidated statements of operations for the
nine months ended May 31, 2012 as reported and on a pro forma
basis, assuming the consolidation of NTI Asean on the
Company’s consolidated financial statements as of the
beginning of such period:
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Note 3 - Inventories
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||
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May 31, 2013
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Inventory Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Text Block] |
Inventories
consisted of the following:
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Note 4 - Property and Equipment, Net
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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May 31, 2013
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Property, Plant and Equipment Disclosure [Text Block] |
Property
and equipment, net consisted of the following:
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- Definition
No authoritative reference available. No definition available.
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Note 5 - Patents and Trademarks, Net
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Intangible Assets Disclosure [Text Block] |
Patents
and trademarks, net consisted of the following:
Patent
and trademark costs are amortized over seven
years. Costs incurred related to patents and
trademarks are capitalized until filed and approved, at which
time the amounts capitalized to date are amortized and any
further costs, including maintenance costs, are expensed as
incurred. Amortization expense is estimated to
approximate $80,000 in each of the next five fiscal
years.
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- Definition
No authoritative reference available. No definition available.
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Note 6 - Investments in Joint Ventures
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Equity Method Investments and Joint Ventures Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Method Investments and Joint Ventures Disclosure [Text Block] |
The
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 approximate U.S. GAAP in all
material respects. All material profits recorded
on sales from the Company to its joint ventures of goods that
remain in inventory, 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), China, NTI Asean and all of the Company’s
other joint ventures, are summarized as follows:
*Prior
to September 1, 2012, the Company owned 50% of NTI Asean,
which included the joint venture in China, and disclosed its
financial information accordingly. On September 1, 2012, the
Company obtained an additional 10% ownership interest in NTI
Asean and has consolidated the results of NTI Asean
subsequent to that date. As a result the Company
now discloses the financial information for only its joint
venture in China and not all of NTI Asean accordingly.
The
Company records expenses that are directly attributable to
the joint ventures on the consolidated statements of
operations on the line “Expenses incurred in support of
joint ventures”. The expenses include items
such as employee compensation and benefit expenses, travel
expense and consulting expense.
The
Company did not make any joint venture investments during the
nine months ended May 31, 2013 and 2012.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 7 - Corporate Debt
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9 Months Ended | ||
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May 31, 2013
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Debt Disclosure [Text Block] | |||
Debt Disclosure [Text Block] |
As
of May 31, 2013, Northern Technologies Holding Company, LLC
(NTI LLC) had a term loan with a principal amount of $952,444
outstanding that NTI LLC obtained from PNC Bank, National
Association (PNC Bank) in connection with the purchase of
NTIC’s corporate headquarters in September
2006. The term loan matures on January 10, 2016,
bears interest at an annual rate based on the daily LIBOR
rate plus 2.15% and is payable in consecutive monthly
installments equal to approximately $6,343 (inclusive of
principal but exclusive of interest). The term
loan is secured by a first lien on the real estate and
building owned by NTI LLC and all of the assets of the
Company and is guaranteed by the Company.
The
Company has a revolving line of credit with PNC Bank of
$3,000,000. No amounts were outstanding under the
line of credit as of May 31, 2013 and August 31,
2012. At the option of the Company, outstanding
advances under the line of credit bear interest at either (a)
an annual rate based on LIBOR plus 2.15% for the applicable
LIBOR interest period selected by the Company or (b) at the
rate publicly announced by PNC Bank from time to time as its
prime rate. Interest is payable in arrears (a) for the
portion of advances bearing interest under the prime rate on
the last day of each month during the term thereof and (b)
for the portion of advances bearing interest under the LIBOR
option on the last day of the respective LIBOR interest
period selected for such advance. Any unpaid
interest is payable on the maturity date. As of
May 31, 2013, the interest rate was 2.85% and the weighted
average rate was 3.02% for the nine months ended May 31,
2013. As of May 31, 2012, the interest rate was
3.20% and the weighted average rate was 3.16% for the nine
months ended May 31, 2012. The revolving line of
credit is secured by cash, receivables and inventory.
The
term loan and the line of credit are governed under separate
loan agreements (collectively, the Loan
Agreements). The Loan Agreements contain standard
covenants, including affirmative financial covenants, such as
the maintenance of a minimum fixed charge coverage ratio, and
negative covenants, which, among other things, limit the
incurrence of additional indebtedness, loans and equity
investments, disposition of assets, mergers and
consolidations and other matters customarily restricted in
such agreements. Under the Loan Agreements, the Company is
subject to a minimum fixed charge coverage ratio of
1.10:1.00. As of May 31, 2013, the Company was in
compliance with all debt covenants.
On
December 11, 2012, PNC Bank extended the maturity date of the
line of credit from January 9, 2013 to January 8, 2014,
and waived a technical covenant default by the Company to
deliver quarterly compliance certificates. All
other terms of the line of credit and the loan agreement and
other documents evidencing the line of credit remain the
same. It is anticipated that the line of credit
will be extended again prior to the January 8, 2014 maturity
date.
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- Definition
No authoritative reference available. No definition available.
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Note 8 - Stockholders' Equity
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Stockholders' Equity Note Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] |
During
the nine months ended May 31, 2013, the Company did not
purchase or retire any shares of its common
stock. The following stock options to purchase
shares of common stock were exercised during the nine months
ended May 31, 2013:
The
Company granted stock options under the Northern Technologies
International Corporation Amended and Restated 2007 Stock
Incentive Plan (the 2007 Plan) to purchase an aggregate of
118,294 shares of its common stock to various employees and
directors during the nine months ended May 31,
2013. The weighted average per share exercise
price of the stock options is $10.25, which is equal to the
fair market value of the Company’s common stock on the
date of grant.
During
the nine months ended May 31, 2012, the Company did not
purchase or retire any shares of its common
stock. The following stock options to purchase
shares of common stock were exercised during the nine months
ended May 31, 2012:
The
Company granted stock options under the 2007 Plan to purchase
an aggregate of 26,000 shares of its common stock to various
employees and directors during the nine months ended May 31,
2012. The weighted average per share exercise
price of the stock options is $16.45, which is equal to the
fair market value of the Company’s common stock on the
date of grant.
During
the nine months ended May 31, 2012, the Company issued stock
bonuses under the 2007 Plan for an aggregate of 42,707 shares
of its common stock to various employees at a grant price of
$14.42 per share. The aggregate fair value of the
shares of the Company’s common stock as of the date of
payment of the stock bonuses was $615,830, based on the
closing sale price of a share of the Company’s common
stock on the date of payment. The fair value of common stock
granted during the nine months ended May 31, 2012 was based
on fiscal 2012 performance and was included in accrued
liabilities at August 31, 2012.
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- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 9 - Net Income Per Common Share
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Earnings Per Share [Text Block] |
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.
Options
to purchase shares of common stock of 40,000 were excluded
from the computation of common share equivalents for the
three and nine months ended May 31, 2013, as the exercise
prices of such options were greater than market price of a
share of common stock. Options to purchase shares
of common stock of 26,000 were excluded from the computation
of common share equivalents for the three and nine months
ended May 31, 2012, as the exercise prices of such options
were greater than market price of a share of common
stock.
The
following is a reconciliation of the earnings per share
computation for the three and nine months ended May 31,
2013 and 2012:
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. Earnings per common
share were based on the weighted average number of common
shares outstanding during the periods when computing the
basic earnings per share. When dilutive, stock options are
included as equivalents using the treasury stock market
method when computing the diluted earnings per share.
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- Definition
No authoritative reference available. No definition available.
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Note 10 - Stock-Based Compensation
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Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
The
Company has two stock-based compensation plans under which
stock options and other stock-based awards have been granted,
including the Northern Technologies International Corporation
Amended and Restated 2007 Stock Incentive Plan and the
Northern Technologies International Corporation Employee
Stock Purchase Plan (the ESPP). The Compensation
Committee of the Board of Directors and the Board of
Directors administers these plans.
The
2007 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. Subject to adjustment as provided in
the 2007 Plan, up to a maximum of 800,000 shares of the
Company’s common stock are issuable under the 2007
Plan. Options granted under the 2007 Plan
generally have a term of five years and become exercisable
over a three- or four-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. To date, only stock options and stock
bonuses have been granted under the 2007 Plan.
The
maximum number of shares of common stock of the Company
available for issuance under the ESPP is 100,000 shares,
subject to adjustment as provided in the ESPP. The
ESPP provides for six-month offering periods beginning on
September 1 and March 1 of each year. The purchase
price of the shares is 90% of the lower of the fair market
value of common stock at the beginning or end of the offering
period. This discount may not exceed the maximum
discount rate permitted for plans of this type under Section
423 of the Internal Revenue Code of 1986, as
amended. The ESPP is compensatory for financial
reporting purposes.
The
Company granted options to purchase an aggregate of 118,294
and 26,000 shares of its common stock during the nine months
ended May 31, 2013 and 2012, respectively. The
fair value of option grants is determined at date of grant,
using the Black-Scholes option pricing model with the
assumptions listed below. Based on these valuations,
the Company recognized compensation expense of $213,374 and
$216,712 during the nine months ended May 31, 2013 and 2012,
respectively, related to the options that vested during such
time period. The stock-based expense recorded
reduced after-tax net income per share by $0.05 for each of
the nine months ended May 31, 2013 and
2012. As of May 31, 2013, the total compensation
cost for non-vested options not yet recognized in the
Company’s consolidated statements of operations was
$398,849 net of estimated forfeitures. Additional
stock-based compensation expense of $93,077 is expected
through the remainder of fiscal year 2013, and expense of
$185,815 and $99,964 is expected to be recognized during
fiscal 2014 and fiscal 2015, respectively. Future
option grants will impact the compensation expense
recognized.
The
Company currently estimates a ten percent forfeiture rate for
stock options and continually reviews this estimate for
future periods.
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:
The
weighted average per share fair value of options granted
during nine months ended May 31, 2013 and 2012 was $5.53 and
$7.14, respectively. The weighted average
remaining contractual life of the options outstanding as of
May 31, 2013 and 2012 was 4.48 years and 1.82 years,
respectively.
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No authoritative reference available. No definition available.
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Note 11 - Geographic And Segment Information
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Segment Reporting Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] |
Net
sales by geographic location as a percentage of total
consolidated net sales for the three and nine months ended
May 31, 2013 and 2012 were as follows:
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 the three and nine months ended May
31, 2013 and 2012 were as follows:
The
following table sets forth the Company’s net sales for
the three and nine months ended May 31, 2013 and 2012 by
segment:
The
following table sets forth the Company’s cost of goods
sold for the three and nine months ended May 31, 2013
and 2012 by segment:
The
Company’s management 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.
The
geographical distribution of key financial statement data is
as follows:
Total
assets located in Brazil primarily consist of cash and cash
equivalents, customer receivables and
inventory. 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.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 12 - Research and Development
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9 Months Ended | ||
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May 31, 2013
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Research, Development, and Computer Software Disclosure [Text Block] | |||
Research, Development, and Computer Software Disclosure [Text Block] |
The
Company expenses all costs related to product research and
development as incurred. The Company
incurred $2,853,250 and $2,856,536 of expense during the nine
months ended May 31, 2013 and 2012, respectively, in
connection with its research and development
activities. These costs related
to product research and development are net of reimbursements
related to certain research and development contracts
of $206,046 and $297,258 for the nine months ended May
31, 2013 and 2012, respectively. The net fees are
accounted for in the “Research and Development
Expenses” section of the consolidated statements of
operations.
The
Company has certain research and development
contracts. The Company accrues proceeds received
under such contracts and offsets research and development
expenses incurred in equal installments over the timelines
associated with completion of the contracts’ specific
objectives and milestones. At May 31, 2013, the Company had
$143,395 as a receivable, and as of August 31, 2012, the
Company had $96,861 of deferred amounts in other accrued
liabilities as the Company had not yet performed under the
obligations of the contract at that time.
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- Definition
No authoritative reference available. No definition available.
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Note 13 - Commitments and Contingencies
|
9 Months Ended | ||
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May 31, 2013
|
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Commitments and Contingencies Disclosure [Text Block] | |||
Commitments and Contingencies Disclosure [Text Block] |
On
August 31, 2012, the Board of Directors of the Company, upon
recommendation of the Compensation Committee of the Board of
Directors, approved the material terms of an annual bonus
plan for the Company’s executive officers and certain
officers and employees for the fiscal year ending August 31,
2013. For fiscal 2013 as in past years, the total
amount available under the bonus plan will be up to 25% of
the Company’s earnings before interest, taxes and other
income, as adjusted to take into account amounts to be paid
under the bonus plan and certain other adjustments (Adjusted
EBITOI), assuming the achievement of at least a minimum
Adjusted EBITOI, which is traditionally 70% of a budgeted
target Adjusted EBITOI for fiscal 2013, as proposed by the
Compensation Committee and approved by the Board of Directors
annually. For each plan participant, 50% of the
amount of the participant’s individual bonus payout
will be determined based upon the participant’s
individual allocation percentage of the total amount
available under the bonus plan and 50% of the
participant’s payout will be determined based upon the
participant’s achievement of certain pre-established
but more qualitative individual performance
objectives. The payment of bonuses under the plan
are discretionary and may be paid to executive officer
participants in both cash and shares of NTIC common stock,
the exact amount and percentages of which will be 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 2013. There was $580,000 for
management bonuses accrued for nine months ended May 31, 2013
compared to a management bonus accrual of $1,058,045 for the
nine months ended May 31, 2012.
The
Company leases property with future lease payments as
follows: fiscal 2013 - $59,625; fiscal 2014 - $59,500 and
thereafter - $0.
Three
joint ventures accounted for 67.1% and 55.3% of the
Company’s trade joint venture receivables at
May 31, 2013 and August 31, 2012, respectively.
From
time to time, the Company is subject to various claims and
legal actions in the ordinary course of its
business. The Company is not currently involved in
any legal proceeding in which the Company believes, based on
information currently available, that there is a reasonable
possibility of a material loss.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 2 - NTI ASEAN (Tables)
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May 31, 2013
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Business Combination Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
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Business Acquisition, Pro Forma Information [Table Text Block] |
|
X | ||||||||||
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|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 3 - Inventories (Tables)
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Feb. 28, 2013
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Inventory Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||
Schedule of Inventory, Current [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 4 - Property and Equipment, Net (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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May 31, 2013
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Property, Plant and Equipment Disclosure [Text Block] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 5 - Patents and Trademarks, Net (Tables)
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May 31, 2013
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Disclosure Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] |
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 6 - Investments in Joint Ventures (Tables)
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May 31, 2013
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Equity Method Investments and Joint Ventures Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Balance Sheet [Table Text Block] |
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Condensed Income Statement [Table Text Block] |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 8 - Stockholders' Equity (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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May 31, 2013
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Stockholders' Equity Note Disclosure [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
|
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- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 9 - Net Income Per Common Share (Tables)
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May 31, 2013
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Earnings Per Share [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
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|
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Note 10 - Stock-Based Compensation (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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May 31, 2013
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Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
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Note 11 - Geographic And Segment Information (Tables)
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May 31, 2013
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May 31, 2013
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Note 11 - Geographic And Segment Information (Tables) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] |
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Reconciliation of Revenue from Segments to Consolidated [Table Text Block] |
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Reconciliation of Cost of Good Sold from Segments to Consolidated [Table Text Block] |
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Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] |
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Schedule of Segment Reporting Information, by Segment [Table Text Block] |
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Fees For Services Provided to Joint Ventures [Member]
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Note 11 - Geographic And Segment Information (Tables) [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] |
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- Details
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- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total cost of goods sold from reportable segments to the entity's consolidated revenues. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 2 - NTI ASEAN (Details)
|
1 Months Ended | ||
---|---|---|---|
Sep. 30, 2012
NTI ASEAN [Member]
|
Aug. 31, 2012
NTI ASEAN [Member]
|
Sep. 30, 2012
Capitalization Rate To Determine Fair Value of NTI Asean [Member]
|
|
Note 2 - NTI ASEAN (Details) [Line Items] | |||
Equity Method Investment, Ownership Percentage | 50.00% | ||
Business Acquisition, Percentage of Voting Interests Acquired | 10.00% | ||
Business Acquisition, Ownership Percentage Subsequent to Acquisition | 60.00% | ||
Fair Value Inputs, Discount Rate | 25.00% |
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee subsequent to the business acquisition. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 2 - NTI ASEAN (Details) - Allocation of the total transaction amount: (USD $)
|
9 Months Ended |
---|---|
May 31, 2013
|
|
Net assets acquired (liabilities assumed): | |
Cash and cash equivalents | $ 1,613,000 |
Accounts receivables | 1,342,000 |
Investments in joint ventures | 4,967,000 |
Value of assets | 7,922,000 |
Purchase price: | |
Fair value of non-controlling interest | 3,961,000 |
Value of previously held interest | 3,961,000 |
Total consideration | $ 7,922,000 |
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
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- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 3 - Inventories (Details) - Inventories (USD $)
|
May 31, 2013
|
Aug. 31, 2012
|
---|---|---|
Inventories [Abstract] | ||
Production materials | $ 1,140,800 | $ 1,462,615 |
Finished goods | 4,076,176 | 2,688,582 |
$ 5,216,976 | $ 4,151,197 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 4 - Property and Equipment, Net (Details) - Components of Property and Equipment, Net (USD $)
|
May 31, 2013
|
Aug. 31, 2012
|
---|---|---|
Components of Property and Equipment, Net [Abstract] | ||
Land | $ 310,365 | $ 310,365 |
Buildings and improvements | 4,302,151 | 3,406,674 |
Machinery and equipment | 3,173,684 | 2,908,021 |
7,786,200 | 6,625,060 | |
Less accumulated depreciation | (2,660,067) | (2,336,442) |
$ 5,126,133 | $ 4,288,618 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 5 - Patents and Trademarks, Net (Details) (USD $)
|
9 Months Ended |
---|---|
May 31, 2013
|
|
Note 5 - Patents and Trademarks, Net (Details) [Line Items] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months (in Dollars) | $ 80,000 |
Patents and Trademarks [Member]
|
|
Note 5 - Patents and Trademarks, Net (Details) [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 7 years |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 5 - Patents and Trademarks, Net (Details) - Patents and Trademarks, Net (USD $)
|
May 31, 2013
|
Aug. 31, 2012
|
---|---|---|
Patents and Trademarks, Net [Abstract] | ||
Patents and trademarks | $ 2,097,872 | $ 1,945,785 |
Less accumulated amortization | (1,036,147) | (984,604) |
$ 1,061,725 | $ 961,181 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 6 - Investments in Joint Ventures (Details) (NTI ASEAN [Member])
|
Sep. 30, 2012
|
Aug. 31, 2012
|
---|---|---|
NTI ASEAN [Member]
|
||
Note 6 - Investments in Joint Ventures (Details) [Line Items] | ||
Equity Method Investment, Ownership Percentage | 50.00% | |
Business Acquisition, Percentage of Voting Interests Acquired | 10.00% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 7 - Corporate Debt (Details) (USD $)
|
9 Months Ended | |
---|---|---|
May 31, 2013
|
May 31, 2012
|
|
Note 7 - Corporate Debt (Details) [Line Items] | ||
Long-term Debt, Gross (in Dollars) | $ 952,444 | |
Monthly Payments [Member] | Term Loan [Member]
|
||
Note 7 - Corporate Debt (Details) [Line Items] | ||
Debt Instrument, Periodic Payment, Principal (in Dollars) | 6,343 | |
Term Loan [Member]
|
||
Note 7 - Corporate Debt (Details) [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.15% | |
Term Loan and Line of Credit Agreements "Loan Agreements" [Member]
|
||
Note 7 - Corporate Debt (Details) [Line Items] | ||
Debt Instrument, Covenants, Fixed Charge Coverage Ratio | 1.10:1.00 | |
Revolving Credit Facility [Member]
|
||
Note 7 - Corporate Debt (Details) [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.15% | |
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | $ 3,000,000 | |
Line of Credit Facility, Interest Rate at Period End | 2.85% | 3.20% |
Debt, Weighted Average Interest Rate | 3.02% | 3.16% |
X | ||||||||||
- Definition
Represents the fixed charge coverage ratio for the debt instrument under the covenant terms. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Represents the aggregate fair value of equity-based payment equity instruments, excluding stock or unit options, as of the date of grant. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 8 - Stockholders' Equity (Details) - Exercised Stock Options (USD $)
|
9 Months Ended | |||||
---|---|---|---|---|---|---|
May 31, 2012
|
May 31, 2013
Exercise 1 [Member]
|
May 31, 2013
Exercise 2 [Member]
|
May 31, 2013
Exercise 3 [Member]
|
May 31, 2013
Exercise 4 [Member]
|
May 31, 2013
Exercise 5 [Member]
|
|
Note 8 - Stockholders' Equity (Details) - Exercised Stock Options [Line Items] | ||||||
Options Exercised | 1,966 | 25,140 | 4,000 | 1,734 | 1,500 | 666 |
Exercise Price (in Dollars per share) | $ 7.65 | $ 9.95 | $ 8.57 | $ 7.65 | $ 9.76 | $ 7.75 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 9 - Net Income Per Common Share (Details) (Employee Stock Option [Member])
|
9 Months Ended | |
---|---|---|
May 31, 2013
|
May 31, 2012
|
|
Employee Stock Option [Member]
|
||
Note 9 - Net Income Per Common Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 40,000 | 26,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 9 - Net Income Per Common Share (Details) - Reconciliation of the Earnings Per Share Computations (USD $)
|
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
|
May 31, 2012
|
|
Reconciliation of the Earnings Per Share Computations [Abstract] | ||||
Net income attributable to NTIC (in Dollars) | $ 927,112 | $ 1,454,037 | $ 1,751,144 | $ 3,018,987 |
Basic – weighted shares outstanding | 4,421,379 | 4,399,290 | 4,415,452 | 4,379,175 |
Weighted shares assumed upon exercise of stock options | 47,482 | 61,754 | 49,322 | 65,297 |
Diluted – weighted shares outstanding | 4,468,861 | 4,461,044 | 4,464,774 | 4,448,472 |
Basic earnings per share: (in Dollars per share) | $ 0.21 | $ 0.33 | $ 0.40 | $ 0.69 |
Diluted earnings per share: (in Dollars per share) | $ 0.21 | $ 0.33 | $ 0.39 | $ 0.68 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Estimated expense to be recognized for the second fiscal year following the most recent fiscal year arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
X | ||||||||||
- Definition
Estimated expense to be recognized for the next fiscal year following the most recent fiscal year arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
X | ||||||||||
- Definition
Estimated expense to be recognized for the remainder of the fiscal year arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
X | ||||||||||
- Definition
The amount of expense, net of income tax, per share recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 10 - Stock-Based Compensation (Details) - Black-Scholes Option-Pricing Model Assumptions
|
9 Months Ended | ||
---|---|---|---|
May 31, 2012
|
May 31, 2013
Minimum [Member]
|
May 31, 2013
Maximum [Member]
|
|
Note 10 - Stock-Based Compensation (Details) - Black-Scholes Option-Pricing Model Assumptions [Line Items] | |||
Dividend yield | 0.00% | 0.00% | |
Expected volatility | 48.80% | 48.00% | |
Expected life of option (years) | 5 years | 5 years | 10 years |
Average risk-free interest rate | 1.31% | 0.71% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Percentage of entity wide fees for services provided to joint ventures generated from geographic location. No definition available.
|
X | ||||||||||
- Definition
Total fees for services provided to joint ventures by geographic locations. No definition available.
|
X | ||||||||||
- Details
|
Note 11 - Geographic And Segment Information (Details) - Fees For Services Provided to Joint Ventures By Geographic Location as a Percentage of Total Fees for Services Provided to Joint Ventures (USD $)
|
3 Months Ended | 9 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
|
May 31, 2012
|
|||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | $ 1,917,947 | $ 734,337 | $ 5,535,105 | $ 3,477,715 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 100.00% | 100.00% | 100.00% | 100.00% | ||||||||
China [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 524,724 | [1] | [1] | 1,468,622 | [1] | [1] | ||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 27.30% | [1] | 0.00% | [1] | 26.50% | [1] | 0.00% | [1] | ||||
Germany [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 250,000 | 241,338 | 742,213 | 742,171 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 13.00% | 32.90% | 13.40% | 21.30% | ||||||||
Japan [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 177,432 | 260,026 | 548,618 | 763,548 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 9.30% | 35.40% | 9.90% | 22.00% | ||||||||
Thailand [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 169,085 | [1] | [1] | 471,074 | [1] | [1] | ||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 8.80% | [1] | 0.00% | [1] | 8.50% | [1] | 0.00% | [1] | ||||
Korea [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 147,867 | [1],[2] | 61,152 | [1],[2] | 409,997 | [2] | 138,149 | [2] | ||||
Percentage of Total Fees for Services Provided to Joint Ventures | 7.70% | [1],[2] | 8.40% | [1],[2] | 7.40% | [2] | 4.00% | [2] | ||||
France [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 104,645 | 128,480 | 381,043 | 397,123 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 5.50% | 17.50% | 6.90% | 11.40% | ||||||||
Poland [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 113,339 | 113,305 | 379,650 | 341,603 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 5.90% | 15.40% | 6.90% | 9.80% | ||||||||
Sweden [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 141,000 | 141,257 | 305,619 | 446,191 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 7.40% | 19.20% | 5.50% | 12.80% | ||||||||
Finland [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 85,246 | 127,344 | 245,426 | 378,751 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 4.40% | 17.30% | 4.40% | 10.90% | ||||||||
United Kingdom [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | 65,193 | 83,879 | 168,005 | 244,017 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 3.40% | 11.40% | 3.10% | 7.00% | ||||||||
India [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | (492,602) | (192,758) | ||||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 0.00% | (67.10%) | 0.00% | (5.50%) | ||||||||
Other Countries [Member]
|
||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||||||
Fees for Services Provided to Joint Ventures (in Dollars) | $ 139,416 | $ 70,158 | $ 414,838 | $ 218,920 | ||||||||
Percentage of Total Fees for Services Provided to Joint Ventures | 7.30% | 9.60% | 7.50% | 6.30% | ||||||||
|
X | ||||||||||
- Definition
Percentage of entity wide fees for services provided to joint ventures generated from geographic location. No definition available.
|
X | ||||||||||
- Definition
Total fees for services provided to joint ventures by geographic locations. No definition available.
|
X | ||||||||||
- Details
|
Note 11 - Geographic And Segment Information (Details) - Net Sales By Segment (USD $)
|
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
|
May 31, 2012
|
|
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net Sales | $ 5,877,033 | $ 7,804,904 | $ 16,415,130 | $ 17,611,346 |
ZERUST [Member]
|
||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net Sales | 5,418,271 | 7,220,258 | 14,923,966 | 16,243,683 |
Natur-Tec [Member]
|
||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
Net Sales | $ 458,762 | $ 584,646 | $ 1,491,164 | $ 1,367,663 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Note 11 - Geographic And Segment Information (Details) - Cost of Goods Sold By Segment (USD $)
|
3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
|
May 31, 2012
|
|||||||
Direct cost of goods sold | ||||||||||
Cost of Goods Sold | $ 4,054,364 | $ 4,143,514 | $ 11,379,249 | $ 10,833,072 | ||||||
ZERUST [Member] | Direct Cost of Goods Sold [Member]
|
||||||||||
Direct cost of goods sold | ||||||||||
Cost of Goods Sold | 3,115,980 | 3,046,644 | 8,383,345 | 8,074,031 | ||||||
% of Product Sales | 57.50% | [1] | 42.20% | [1] | 56.20% | [1] | 49.70% | [1] | ||
Natur-Tec [Member] | Direct Cost of Goods Sold [Member]
|
||||||||||
Direct cost of goods sold | ||||||||||
Cost of Goods Sold | 367,485 | 501,749 | 1,260,305 | 1,160,014 | ||||||
% of Product Sales | 80.10% | [1] | 85.80% | [1] | 84.50% | [1] | 84.80% | [1] | ||
Indirect Cost of Goods Sold [Member]
|
||||||||||
Direct cost of goods sold | ||||||||||
Cost of Goods Sold | $ 570,899 | $ 595,121 | $ 1,735,599 | $ 1,599,027 | ||||||
% of Product Sales | [1] | [1] | [1] | [1] | ||||||
|
X | ||||||||||
- Definition
Represents the cost of goods sold as a percentage of product sales. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 11 - Geographic And Segment Information (Details) - Total assets by geographic distribution (USD $)
|
May 31, 2013
|
Aug. 31, 2012
|
---|---|---|
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total assets | $ 46,511,313 | $ 41,877,627 |
Brazil [Member]
|
||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total assets | 1,308,385 | 1,744,693 |
North America [Member]
|
||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total assets | $ 45,202,928 | $ 40,132,934 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Note 11 - Geographic And Segment Information (Details) - Operating income by geographic distribution (USD $)
|
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
|
May 31, 2012
|
|
Segment Reporting Information [Line Items] | ||||
Net sales | $ 5,877,033 | $ 7,804,904 | $ 16,415,130 | $ 17,611,346 |
Operating income | 1,493,771 | 2,438,336 | 3,337,290 | 4,162,657 |
Brazil [Member]
|
||||
Segment Reporting Information [Line Items] | ||||
Net sales | 1,699,084 | 4,004,399 | ||
Operating income | (263,353) | 1,780,269 | ||
North America [Member]
|
||||
Segment Reporting Information [Line Items] | ||||
Net sales | 14,716,046 | 13,606,947 | ||
Operating income | $ 3,600,643 | $ 2,382,388 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Note 12 - Research and Development (Details) (USD $)
|
3 Months Ended | 9 Months Ended | ||||
---|---|---|---|---|---|---|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
|
May 31, 2012
|
May 31, 2013
Research and Development Contracts [Member]
|
Aug. 31, 2012
Research and Development Contracts [Member]
|
|
Note 12 - Research and Development (Details) [Line Items] | ||||||
Research and Development Expense | $ 1,002,651 | $ 1,067,454 | $ 2,853,250 | $ 2,856,536 | ||
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Gross | 206,046 | 297,258 | ||||
Contract Receivable | 143,395 | |||||
Deferred Revenue | $ 96,861 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Note 13 - Commitments and Contingencies (Details) (USD $)
|
9 Months Ended | ||||
---|---|---|---|---|---|
May 31, 2013
|
Aug. 31, 2012
|
May 31, 2012
|
May 31, 2013
Fiscal 2013 Bonus Plan [Member]
Executive Officer [Member]
|
May 31, 2013
Fiscal 2013 Bonus Plan [Member]
|
|
Note 13 - Commitments and Contingencies (Details) [Line Items] | |||||
Percentage of Company's Earnings Before Interest, Taxes, and Other Income Available Under the Bonus Plan, Maximum | 25.00% | ||||
Adjusted EBITOI As Percentage of Target EBITOI, Threshold To Pay Bonus | 70.00% | ||||
Percentage of Individual Bonus Payout Determined By Actual Versus Targeted EBITOI Results | 50.00% | ||||
Percentage of Individual's Payout Determined Upon Achievement of Certain Pre-Established Individual Performance Objectives | 50.00% | ||||
Accrued Bonuses (in Dollars) | $ 580,000 | $ 1,058,045 | |||
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year (in Dollars) | 59,625 | ||||
Operating Leases, Future Minimum Payments, Due in Two Years (in Dollars) | 59,500 | ||||
Operating Leases, Future Minimum Payments, Due Thereafter (in Dollars) | $ 0 | ||||
Entity-Wide Trade Joint Venture Receivables, Three Joint Ventures, Percentage | 67.10% | 55.30% |
X | ||||||||||
- Definition
If the adjusted EBITOI (EBITO adjusted for amounts to be paid under the bonus plan) falls below this threshold then no cash bonuses will be paid. No definition available.
|
X | ||||||||||
- Definition
Percentage of total trade joint venture receivables accounted for by three joint ventures. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Maximum percentage of EBITOI available as bonus amounts under the bonus plan. No definition available.
|
X | ||||||||||
- Definition
Percentage of individual's bonus payout determined based upon the Company's actual EBITOI for the fiscal year compared to pre-established target EBITOI for the fiscal year. No definition available.
|
X | ||||||||||
- Definition
Percentage of individual's payout determined based upon achievement of certain pre-established individual performance objectives. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|