Quarterly report pursuant to Section 13 or 15(d)

RELATED-PARTY TRANSACTIONS

v3.20.1
RELATED-PARTY TRANSACTIONS
6 Months Ended
Feb. 29, 2020
RELATED-PARTY TRANSACTIONS  
RELATED-PARTY TRANSACTIONS

NOTE 3 – RELATED-PARTY TRANSACTIONS

The Company sells certain products and supplies to two related parties. Sales recognized during the three months ended February 29, 2020 and February 28, 2019 from the related parties totaled $320 and $49, respectively. Sales recognized during the six months ended February 29, 2020 and February 28, 2019 from the related parties totaled $1,186 and $59, respectively. Total accounts receivable from related parties was $1,207 and $465 as of February 29, 2020 and August 31, 2019, respectively. Further, the Company rents certain warehouse equipment from a related party. During the three months ended February 29, 2020 and February 28, 2019, total purchases of $74 and $94, respectively, were made from the related party. During the six months ended February 29, 2020 and February 28, 2019, total purchases of $231 and $98, respectively, were made from the related party.