Northern Technologies International (NTIC) 10-K 19 Nov 21 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2021	Nov. 15, 2021	Feb. 26, 2021
Document Information [Line Items]
Entity Central Index Key	0000875582
Entity Registrant Name	Northern Technologies International Corporation
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Aug. 31, 2021
Document Transition Report	false
Entity File Number	001-11038
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0857886
Entity Address, Address Line One	4201 Woodland Road P.O. Box 69
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
Entity Shell Company	false
Entity Public Float			$ 123,000,000
Entity Common Stock, Shares Outstanding		9,187,446

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Aug. 31, 2021	Aug. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 7,680,641	$ 6,403,032
Available for sale securities	4,634	5,544,722
Receivables:
Trade excluding joint ventures, less allowance for doubtful accounts of $382,000 as of August 31, 2021 and $90,000 as of August 31, 2020	11,128,805	8,072,212
Trade joint ventures	624,808	475,900
Fees for services provided to joint ventures	1,505,127	927,286
Income taxes	386,574	19,907
Inventories	11,114,207	10,961,796
Prepaid expenses	1,302,293	797,495
Total current assets	33,747,089	33,202,350
PROPERTY AND EQUIPMENT, NET	11,821,458	7,110,789
OTHER ASSETS:
Investments in joint ventures	27,623,768	24,090,826
Deferred income taxes	92,554	209,729
Patents and trademarks, net	709,572	802,006
Operating lease right of use asset	376,438	658,788
Total other assets	28,802,332	25,761,349
Total assets	74,370,879	66,074,488
CURRENT LIABILITIES:
Accounts payable	4,290,972	3,205,241
Income taxes payable	178,923	310,922
Accrued liabilities:
Payroll and related benefits	2,879,468	1,314,978
Other	894,497	880,118
Current portion of operating lease	272,336	386,345
Total current liabilities	8,516,196	6,097,604
LONG-TERM LIABILITIES:
Operating lease, less current portion	104,102	272,443
Total long-term liabilities	104,102	272,443
COMMITMENTS AND CONTINGENCIES (Note 15)
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 as of August 31, 2021 and August 31, 2020; issued and outstanding 9,184,811 and 9,099,990, respectively	183,696	182,000
Additional paid-in capital	18,736,268	17,415,043
Retained earnings	46,973,092	42,472,810
Accumulated other comprehensive loss	(3,525,030)	(3,410,438)
Stockholders’ equity	62,368,026	56,659,415
Non-controlling interests	3,382,555	3,045,026
Total equity	65,750,581	59,704,441
Total liabilities and equity	$ 74,370,879	$ 66,074,488

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Trade receivable excluding joint ventures, allowance for doubtful accounts	$ 382,000	$ 90,000
Preferred stock, 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 value (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)	9,184,811	9,099,990
Common stock, shares outstanding (in shares)	9,184,811	9,099,990

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
NET SALES:
Net sales, excluding joint ventures	$ 53,470,623	$ 45,666,045
Net sales, to joint ventures	3,023,196	1,972,646
Total net sales	56,493,819	47,638,691
Cost of goods sold	36,920,814	31,609,274
Gross profit	19,573,005	16,029,417
JOINT VENTURE OPERATIONS:
Equity in income from joint ventures	7,465,214	4,270,327
Fees for services provided to joint ventures	5,964,260	4,612,885
To Total joint venture operations	13,429,474	8,883,212
OPERATING EXPENSES:
Selling expenses	12,016,974	10,656,689
General and administrative expenses	8,262,173	8,688,309
Research and development expenses	4,400,479	3,979,455
Total operating expenses	24,679,626	23,324,453
OPERATING INCOME	8,322,853	1,588,176
INTEREST INCOME	151,875	167,733
INTEREST EXPENSE	(16,086)	(16,034)
INCOME BEFORE INCOME TAX EXPENSE	8,458,642	1,739,875
INCOME TAX EXPENSE	1,461,905	2,674,635
NET INCOME (LOSS)	6,996,737	(934,760)
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	715,499	402,949
NET INCOME (LOSS) ATTRIBUTABLE TO NTIC	$ 6,281,238	$ (1,337,709)
NET INCOME (LOSS) ATTRIBUTABLE TO NTIC PER COMMON SHARE:
Basic (in dollars per share)	$ 0.69	$ (0.15)
Diluted (in dollars per share)	$ 0.64	$ (0.15)
WEIGHTED AVERAGE COMMON SHARES ASSUMED OUTSTANDING:
Basic (in shares)	9,116,472	9,096,981
Diluted (in shares)	9,874,139	9,096,981
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.20	$ 0.13

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
NET INCOME (LOSS)	$ 6,996,737	$ (934,760)
OTHER COMPREHENSIVE INCOME (LOSS) – FOREIGN CURRENCY TRANSLATION ADJUSTMENT	(92,562)	1,150,138
COMPREHENSIVE INCOME	6,904,175	215,378
LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	(737,529)	(370,347)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NTIC	$ 6,166,646	$ (154,969)

Consolidated Statements of Equi

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, 2019	9,086,816
BALANCE at Aug. 31, 2019	$ 181,736	$ 16,013,338	$ 44,992,719	$ (4,593,178)	$ 3,074,679	$ 59,669,294
Stock options exercised (in shares)	6,823					6,823
Stock options exercised	$ 137	(137)	0	0	0	$ 0
Stock issued for employee stock purchase plan (in shares)	6,351
Stock issued for employee stock purchase plan	$ 127	64,068	0	0	0	64,195
Stock option expense	0	1,337,774	0	0	0	1,337,774
Dividends paid to stockholders	0	0	(1,182,200)		0	(1,182,200)
Dividend received by non-controlling interest	0	0	0	0	(400,000)	(400,000)
Net income (loss)	0	0	(1,337,709)	0	402,949	(934,760)
Other comprehensive income (loss)	$ 0	0	0	1,182,740	(32,602)	1,150,138
BALANCE (in shares) at Aug. 31, 2020	9,099,990
BALANCE at Aug. 31, 2020	$ 182,000	17,415,043	42,472,810	(3,410,438)	3,045,026	$ 59,704,441
Stock options exercised (in shares)	74,950					74,950
Stock options exercised	$ 1,499	582,915	0	0	0	$ 584,414
Stock issued for employee stock purchase plan (in shares)	9,871
Stock issued for employee stock purchase plan	$ 197	74,136	0	0	0	74,333
Stock option expense	0	664,174	0	0	0	664,174
Dividends paid to stockholders	0	0	(1,780,956)		0	(1,780,956)
Dividend received by non-controlling interest	0	0	0	0	(400,000)	(400,000)
Net income (loss)	0	0	6,281,238	0	715,499	6,996,737
Other comprehensive income (loss)	$ 0	0	0	(114,592)	22,030	(92,562)
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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 6,996,737	$ (934,760)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	664,174	1,337,774
Depreciation expense	905,299	836,601
Amortization expense	203,088	231,624
Change in allowance for doubtful accounts	262,000	25,000
Equity in income from joint ventures	(7,465,214)	(4,270,327)
Dividends received from joint ventures	3,665,365	5,672,099
Loss on disposal of property and patents	0	173,810
Deferred income taxes	114,620	1,424,529
Changes in current assets and liabilities:
Trade, excluding joint ventures	(3,030,655)	1,680,611
Trade, joint ventures	(148,908)	348,573
Fees for services provided to joint ventures	(577,841)	340,714
Income taxes	(362,438)	424,002
Inventories	58,314	(435,712)
Prepaid expenses and other	(487,771)	279,312
Accounts payable	866,597	(1,229,510)
Income tax payable	(160,231)	302,641
Accrued liabilities	1,389,804	(1,294,911)
Net cash provided by operating activities	2,892,940	4,912,070
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property and equipment	0	2,190
Purchase of available for sale securities	(800,000)	(4,000,000)
Proceeds from the sale of available for sale securities	6,340,088	2,020,536
Purchases of property and equipment	(5,532,750)	(711,412)
Investments in patents	(110,654)	(95,996)
Net cash used in investing activities	(103,316)	(2,784,682)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividend received by non-controlling interest	(400,000)	(400,000)
Dividends paid on NTIC common stock	(1,780,956)	(1,182,200)
Proceeds from employee stock purchase plan	74,333	64,195
Proceeds from exercise of stock options	584,414	0
Net cash used in financing activities	(1,522,209)	(1,518,005)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	10,194	(63,109)
NET INCREASE IN CASH AND CASH EQUIVALENTS	1,277,609	546,274
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	6,403,032	5,856,758
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 7,680,641	$ 6,403,032

Note 1 - Nature of Business and

Note 1 - Nature of Business and Significant Accounting Policies	12 Months Ended
	Aug. 31, 2021
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 45 two The Company participates, either directly or indirectly, in 18 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 Impact of COVID- 19 March 2020, 19 19 2022. 2021, Principles of Consolidation not September 1, 2021, September 1, 2021. Non-Controlling Interests Net Sales no When determining recognition of revenue arrangements the Company performs the following five 1 2 3 4 5 five 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 not not Revenue Recognition 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 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 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 not 606 10 50 14 not one no one 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 not 606 10 32 18 one not thirty ninety 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 not not no not Sales Commissions not 340 40 25 4 one Product Warranty not not may International Revenue 11, Trade Receivables 30 not not August 31, 2021 August 31, 2020. Trade Receivables from Joint Ventures 90 not not August 31, 2021 2020. Fees for Services Provided to Joint Ventures Cash and Cash Equivalents three may Available for Sale Securities not Inventories first first Property and Depreciation Buildings and improvements (in years) 5 - 30 Machinery and equipment (in years) 3 - 10 Patents and Trademarks Investments in Joint Ventures zero August 31 not may August 31, 2021 2020. 20% 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 no 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. Recoverability of Long-Lived Assets may not Income Taxes The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not The Company records uncertain tax positions on the basis of a two not not 50 Foreign Currency Translation (Accumulated Other Comprehensive Income (Loss)) The Company (excluding NTIC China, Zerust Brazil, Natur-Tec India, Natur Tec Lanka, Zerust Singapore, Zerust Vietnam, 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 Fair Value of Financial Instruments Shipping and Handling Research and Development Common Stock Stock-Based Compensation Subsequent Events Use of Estimates

Note 2 - Accounting Pronounceme

Note 2 - Accounting Pronouncements	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2. ACCOUNTING PRONOUNCEMENTS Recently Issued Accounting Pronouncements In June 2016, No. 2016 13, Measurement of Credit Losses on Financial Instruments November 2018, No. 2018 19 April 2019, No. 2019 04 May 2019, No. 2019 05, November 2019, No. 2019 11, December 15, 2022, first 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

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. INVENTORIES Inventories consisted of the following: August 31, 2021 August 31, 2020 Production materials $ 4,453,688 $ 3,866,791 Finished goods 6,660,519 7,095,005 $ 11,114,207 $ 10,961,796

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	12 Months Ended
	Aug. 31, 2021
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, 2021 August 31, 2020 Land $ 310,365 $ 310,365 Buildings and improvements 13,149,258 8,167,783 Machinery and equipment 5,453,679 4,940,912 18,913,302 13,419,060 Less accumulated depreciation (7,091,844 ) (6,308,271 ) $ 11,821,458 $ 7,110,789

Note 5 - Patents and Trademarks

Note 5 - Patents and Trademarks, Net	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	5. PATENTS AND TRADEMARKS, NET Patents and trademarks, net consisted of the following: August 31, 2021 August 31, 2020 Patents and trademarks $ 3,018,507 $ 2,907,852 Less accumulated amortization (2,308,935 ) (2,105,846 ) $ 709,572 $ 802,006 Patent and trademark costs are amortized over seven August 31, 2021 2020, four

Note 6 - Investments in Joint V

Note 6 - Investments in Joint Ventures	12 Months Ended
	Aug. 31, 2021
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 accounting principles generally accepted in the United States of America 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. The Company considers the Company’s joint venture in Germany, Excor Korrosionsschutz – Technologien und Produkte GmbH (EXCOR) to be individually significant to the Company’s consolidated assets and income as of August 31, 2021. August 31, 2020: September 1, 2021. As of August 31, 2021 Total EXCOR OTHER Current assets $ 69,394,796 $ 33,886,655 $ 35,508,141 Total assets 73,814,402 36,211,520 37,602,882 Current liabilities 16,366,398 5,386,377 10,980,021 Noncurrent liabilities 1,455,524 - 1,455,524 Joint ventures’ equity 55,992,480 30,825,144 25,167,336 Northern Technologies International Corporation’s share of joint ventures’ equity 27,623,768 15,412,574 12,211,194 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings 24,702,778 14,697,490 10,005,288 Fiscal Year Ended August 31, 2021 Total EXCOR OTHER Net sales $ 120,954,550 $ 46,522,688 $ 74,431,862 Gross profit 53,371,610 25,389,981 27,981,629 Net income 14,921,531 8,798,995 6,122,536 Northern Technologies International Corporation’s share of equity in income of joint ventures 7,465,214 4,400,403 3,064,811 Northern Technologies International Corporation’s dividends received from joint ventures 3,665,365 1,809,900 1,855,465 As of August 31, 2020 Total EXCOR FRANCE FINLAND INDIA THAILAND OTHER Current assets $ 55,825,418 $ 25,742,619 $ 4,099,160 $ 1,955,879 $ 4,010,855 $ 4,022,399 $ 15,994,506 Total assets 60,295,587 28,449,772 4,873,484 2,261,147 4,242,660 4,055,451 16,413,073 Current liabilities 11,002,867 2,424,565 2,073,710 415,496 1,007,529 993,332 4,088,235 Noncurrent liabilities 365,274 — — — 32,999 — 332,275 Joint ventures’ equity 48,927,446 26,025,207 2,799,774 1,845,651 3,202,132 3,062,119 11,992,563 Northern Technologies International Corporation’s share of joint ventures’ equity 24,090,826 13,012,606 1,399,887 922,814 1,603,013 1,531,060 5,621,446 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings 21,855,747 12,981,701 1,399,887 902,814 738,191 1,429,060 4,404,094 Fiscal Year Ended August 31, 2020 Total EXCOR FRANCE FINLAND INDIA THAILAND OTHER Net sales $ 87,030,062 $ 32,546,402 $ 8,133,294 $ 3,088,865 $ 5,481,303 $ 6,471,831 $ 31,308,367 Gross profit 39,532,750 18,739,471 3,061,433 1,916,001 2,498,196 2,046,478 11,271,171 Net income 8,545,473 5,266,541 473,137 419,728 697,349 503,884 1,184,834 Northern Technologies International Corporation’s share of equity in income of joint ventures 4,270,327 2,622,423 237,490 209,972 349,218 253,192 598,032 Northern Technologies International Corporation’s dividends received from joint ventures 5,672,099 4,675,850 — 325,635 261,220 160,074 249,320 The Company did not 2021 2020.

Note 7 - Corporate Debt

Note 7 - Corporate Debt	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	7. CORPORATE DEBT The Company has a revolving line of credit with PNC Bank of $5,000,000 at August 31, 2021. 18 August 31, 2021. August 31, 2021 2020. February 22, 2022. 1.10:1.00. August 31, 2021, August 31, 2021, not As of August 31, 2021, 2021 2022.

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. STOCKHOLDERS EQUITY During fiscal 2021, Declaration Date Amount Record Date Payable Date January 15, 2021 $ 0.065 February 3, 2021 February 17, 2021 April 23, 2021 $ 0.065 May 5, 2021 May 19, 2021 July 21, 2021 $ 0.065 August 4, 2021 August 18, 2021 During fiscal 2020, Declaration Date Amount Record Date Payable Date October 22, 2019 $ 0.065 November 6, 2019 November 20, 2019 January 22, 2020 $ 0.065 February 5, 2020 February 19, 2020 On April 23, 2020, 19 not May 31, 2020, August 31, 2020, November 30, 2020. January 15, 2021, On January 15, 2015, no may August 31, 2021, During fiscal 2021, not 2021, During fiscal 2020, not 2020,

Note 9 - Net Income (Loss) Per

Note 9 - Net Income (Loss) Per Common Share	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	9. NET INCOME (LOSS) PER COMMON SHARE Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted net income (loss) per share assumes the exercise of stock options using the treasury stock method, if dilutive. The following is a reconciliation of the net income (loss) per share computation for fiscal 2021 2020: Numerator: August 31, 2021 August 31, 2020 Net income (loss) attributable to NTIC $ 6,281,238 $ (1,337,709 ) Denominator: Basic-weighted shares outstanding 9,116,472 9,096,981 Weighted shares assumed upon exercise of stock options 757,667 - Diluted – weighted shares outstanding 9,874,139 9,096,981 Basic net income (loss) per share: $ 0.69 $ (0.15 ) Diluted net income (loss) per share: $ 0.64 $ (0.15 ) 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, 2021 August 31, 2020

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. STOCK-BASED COMPENSATION The Company has three 2019 2019 2007 2007 2019 2007 no may 2007 The 2019 January 15, 2021, 2019 2019 2019 ten one three one August 31, 2021 2020, 2019 August 31, 2021, 2019 The maximum number of shares of common stock of the Company available for issuance under the ESPP is 200,000 shares, subject to adjustment as provided in the ESPP. The ESPP provides for six September 1 March 1 may not 423 1986, March 1, 2021 2020, September 1, 2020 2019, August 31, 2021, 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 volatility factor used in the Black-Scholes option pricing model is based on historical stock price fluctuations, and the risk-free interest rate is based on U.S. treasury rates appropriate for the expected term. Dividend yield and expected volatility are estimated using historical amounts that are anticipated to be consistent with current values. Expected life of the option is based on the life of the option agreements. Based on these valuations, the Company recognized compensation expense of $664,174 and $1,337,774 during fiscal 2021 2020, August 31, 2021, not 2022 2023, August 31, 2021. 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 2021 Fiscal Year 2020 Dividend yield 1.65 % 2.41 % Expected volatility 45.4 % 45.2 % Expected life of option (in years) 10 10 Weighted average risk-free interest rate 0.77 % 1.40 % Stock option activity during the periods indicated was as follows: Number of Shares (#) Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding at August 31, 2019 839,173 $ 9.13 Options granted 300,770 10.87 Options exercised (11,975 ) 5.13 Options terminated — — Outstanding at August 31, 2020 1,127,968 $ 9.63 Options granted 419,874 8.24 Options exercised (77,645 ) 8.18 Options terminated (43,546 ) 9.63 Outstanding at August 31, 2021 1,426,651 $ 9.30 $ 10,514,418 Exercisable at August 31, 2021 1,022,802 $ 9.72 $ 7,108,474 The weighted average per share fair value of options granted during fiscal 2021 2020 August 31, 2021

Note 11 - Segment and Geographi

Note 11 - Segment and Geographic Information	12 Months Ended
	Aug. 31, 2021
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 over 45 The following tables present the Company’s business segment information: Fiscal 2021 Fiscal 2020 ZERUST® net sales $ 45,554,434 $ 34,474,535 Natur-Tec® net sales 10,939,385 13,164,156 Total net sales $ 56,493,819 $ 47,638,691 The following table sets forth the Company’s cost of goods sold by segment: Fiscal 2021 Fiscal 2020 Direct cost of goods sold ZERUST® $ 26,028,555 $ 18,717,684 Natur-Tec® 7,717,429 10,168,051 Indirect cost of goods sold 3,174,830 2,723,539 Total net cost of goods sold $ 36,920,814 $ 31,609,274 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 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 All joint venture operations, including equity in income, fees for services, and related dividends, are related to ZERUST® Geographic Information Net sales by geographic location for fiscal 2021 2020 Fiscal Year Ended August 31, 2021 2020 Inside the U.S.A. to unaffiliated customers $ 22,039,456 $ 20,218,213 Outside the U.S.A. to: Joint ventures in which the Company is a shareholder directly and indirectly 3,023,196 1,972,646 Unaffiliated customers 31,431,167 25,447,832 $ 56,493,819 $ 47,638,691 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, respectively, were as follows: Fiscal 2021 % of Total Fees for Services Provided to Joint Ventures Fiscal 2020 % of Total Fees for Services Provided to Joint Ventures Germany $ 920,902 15.4 % $ 843,752 18.3 % Japan 826,403 13.9 % 628,889 13.6 % Poland 798,570 13.4 % 553,198 12.0 % Sweden 528,755 8.9 % 372,017 8.1 % France 435,032 7.3 % 310,661 6.7 % Thailand 399,563 6.7 % 328,452 7.1 % India 392,074 6.6 % 250,976 5.4 % Czech Republic 377,395 6.3 % 270,032 5.9 % South Korea 317,042 5.3 % 266,703 5.8 % United Kingdom 316,786 5.3 % 255,121 5.5 % Finland 298,663 5.0 % 256,375 5.6 % Indonesia 122,513 2.1 % 99,543 2.2 % Other 230,562 3.8 % 177,167 3.8 % $ 5,964,260 100.0 % $ 4,612,885 100.0 % 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 See Note 6 The geographical distribution of total long-lived assets and net sales is as follows: At August 31, 2021 At August 31, 2020 China $ 5,110,071 $ 376,088 Other 453,199 172,833 United States 6,258,188 6,561,868 Total long-lived assets $ 11,821,458 $ 7,110,789 Fiscal Year Ended August 31, 2021 Fiscal Year Ended August 31, 2020 China $ 17,343,623 $ 13,409,770 Brazil 4,122,781 2,753,930 India 5,482,989 5,655,797 Other 7,504,970 5,600,982 United States 22,039,456 20,218,212 Total net sales $ 56,493,819 $ 47,638,691 Long-lived assets located in China, Brazil, Germany, and India 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. 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 All joint venture operations, including equity in income, fees for services and related dividends, are primarily related to ZERUST®

Note 12 - Retirement Plan

Note 12 - Retirement Plan	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	12. RETIREMENT PLAN The Company has a 401 may 2021 2020,

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	13. RELATED PARTY TRANSACTIONS During both fiscal 2021 2020,

Note 14 - Income Taxes

Note 14 - Income Taxes	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. INCOME TAXES The provision for income taxes for the fiscal years ended August 31, 2021 2020 Fiscal Year Ended August 31, 2021 2020 Current: Federal $ — $ — State 39,000 23,000 Foreign 1,307,000 1,226,000 1,346,000 1,249,000 Deferred: Federal — 1,501,000 State — 101,000 Foreign 115,905 (176,365 ) 115,905 1,425,635 $ 1,461,905 $ 2,674,635 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, 2021 2020 Fiscal Year Ended August 31, 2021 2020 Tax computed at statutory rates $ 1,794,000 $ 365,000 State income tax, net of federal benefit 37,000 23,000 Tax effect on equity in income of international joint ventures (1,560,000 ) (888,000 ) Tax effect of foreign operations 839,000 641,000 Deemed repatriation — 108,000 Expired foreign tax credit 897,000 — Research and development credit (277,000 ) (368,000 ) Valuation allowance (492,000 ) 2,797,000 Stock based compensation 75,000 189,000 Non-controlling interest (83,000 ) (55,000 ) Other 231,905 (137.365 ) $ 1,461,905 $ 2,674,635 The Company has not 2017 December 31, 2017 not 2021 2020, not 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, 2021 2020 August 31, 2021 2020 Accrued compensation $ 539,300 $ 173,500 Inventory costs 55,100 64,000 Other accrued expenses 103,100 74,900 Lease liability 84,300 147,500 Goodwill and other intangible assets 453,000 581,200 Stock-based compensation 466,300 397,300 Foreign tax credit carryforward 4,893,300 5,790,500 Other credit and loss carryforwards 5,243,100 4,824,200 Total deferred tax assets 11,837,500 12,053,100 Valuation allowance (11,447,500 ) (11,561,700 ) Total deferred tax assets after valuation allowance 390,000 491,400 Property and equipment (7,300 ) (50,700 ) Right-of-use asset (84,300 ) (147,500 ) Unremitted foreign earnings (154,900 ) — Other (50,900 ) (83,400 ) Total deferred tax liabilities (297,400 ) (281,600 ) Net deferred tax assets $ 92,600 $ 209,800 As of August 31, 2020, August 31, 2021. August 31, 2021 not August 31, 2022. August 31, 2021, 2022. August 31, 2021. not August 31, 2022. 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 not The Company determined based on all available evidence, including historical data and projections of future results, that it is more likely than not not August 31, 2021 2020, not August 31, 2021 2020 not August 31, 2021 2020, The following is a tabular reconciliation of the total amounts of approximated unrecognized tax benefits: Fiscal Year Ended August 31, 2021 2020 Gross unrecognized tax benefits – beginning balance $ 278,200 $ 248,000 Gross increases – prior period tax positions 4,400 15,200 Gross increases – current period tax positions 15,000 15,000 Gross unrecognized tax benefits – ending balance $ 297,600 $ 278,200 The entire amount of unrecognized tax benefits would affect the effective tax rate if recognized. It is not 12 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, 2021 August 31, 2020. The Company is subject to taxation in the United States and various states and foreign jurisdictions. With few exceptions, as of August 31, 2021, no August 31, 2018.

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	15. 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 December 31, 2021 June 30, 2024. five ten first 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 12 842. None The Company has made certain assumptions and judgments when applying ASC 842, not 842. not no Present Value of Leases August 31, 2021 August 31, 2020 Right-of-use assets, net $ 376,438 $ 658,788 Current portion of lease liability 272,336 386,345 Lease liability, less current portion 104,102 272,443 Total lease liability $ 376,438 $ 658,788 As of August 31, 2021, not August 31, 2021, Future minimum payments for the next five August 31, 2021 Fiscal 2022 272,336 Fiscal 2023 84,353 Fiscal 2024 26,700 Fiscal 2025 - Total future minimum lease payments 383,389 Less amount representing interest (6,951 ) Present value of obligations under operating leases 376,438 Less current portion (272,336 ) Long-term operating lease obligations $ 104,102 Rent expense under these leases was approximately $386,345 and $131,840 for the years ended August 31, 2021 2020. Annual Bonus Plan On August 26, 2021, August 31, 2022. 2022, 2022 2022, may 2022. On August 27, 2020, August 31, 2021. August 31, 2021, September 1, 2020 three August 31, 2020, September 1, 2019 Concentrations Two joint ventures (consisting of the Company’s joint ventures in the Thailand and Indonesia) accounted for 37.4% of the Company’s trade joint venture receivables as of August 31, 2021, five August 31, 2020. Legal Matters From time to time, the Company is subject to various 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 not not may August 31, 2021, not

Note 16 - Statements of Cash Fl

Note 16 - Statements of Cash Flows	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	16. STATEMENTS OF CASH FLOWS Supplemental disclosures of cash flow information consist of: Fiscal Year Ended August 31, 2021 2020 Cash paid during the year for income tax $ 895,646 $ 1,099,635 Cash paid during the year for interest 16,086 16,034

Note 17 - Fair Value Measuremen

Note 17 - Fair Value Measurements	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	17. FAIR VALUE MEASUREMENTS The Company follows the authoritative guidance on fair value measurements and disclosures with respect to assets and liabilities that are measured at fair value on both a recurring and non-recurring basis. Under this guidance, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability, developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three Level 1 Level 2 not Level 3 See the section below titled Valuation Techniques for further discussion of how the Company determines fair value for investments. Assets and Liabilities That Are Measured at Fair Value on a Recurring Basis 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, 2021 Level 1 Level 2 Level 3 Available for sale securities $ 4,634 $ 4,634 $ — $ — Fair Value Measurements Using Inputs Considered as Fair value as of August 31, 2020 Level 1 Level 2 Level 3 Available for sale securities $ 5,544,722 $ 5,544,722 $ — $ — Valuation Techniques Financial assets that are classified as Level 1 The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may no 1, 2, 3 August 31, 2021 August 31, 2020. 3,

Note 18 - Subsequent Events

Note 18 - Subsequent Events	12 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	18. SUBSEQUENT EVENTS On October 20, 2021, November 17, 2021 November 3, 2021. 19 On September 21, 2021, September 1, 2021. Also on September 21, 2021, August 31, 2021, February 22, 2022 not

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation not September 1, 2021, September 1, 2021.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Non-Controlling Interests
Revenue Recognition, Deferred Revenue [Policy Text Block]	Net Sales no When determining recognition of revenue arrangements the Company performs the following five 1 2 3 4 5 five 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 not not Revenue Recognition 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 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 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 not 606 10 50 14 not one no one 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 not 606 10 32 18 one not thirty ninety 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 not not no not Sales Commissions not 340 40 25 4 one Product Warranty not not may International Revenue 11,
Receivable [Policy Text Block]	Trade Receivables 30 not not August 31, 2021 August 31, 2020.
Receivables from Joint Ventures Policy [Policy Text Block ]	Trade Receivables from Joint Ventures 90 not not August 31, 2021 2020. Fees for Services Provided to Joint Ventures
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents three may
Marketable Securities, Policy [Policy Text Block]	Available for Sale Securities not
Inventory, Policy [Policy Text Block]	Inventories first first
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Depreciation Buildings and improvements (in years) 5 - 30 Machinery and equipment (in years) 3 - 10
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Patents and Trademarks
Equity Method Investments [Policy Text Block]	Investments in Joint Ventures zero August 31 not may August 31, 2021 2020. 20% 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 no 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.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Recoverability of Long-Lived Assets may not
Income Tax, Policy [Policy Text Block]	Income Taxes The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not The Company records uncertain tax positions on the basis of a two not not 50
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation (Accumulated Other Comprehensive Income (Loss)) The Company (excluding NTIC China, Zerust Brazil, Natur-Tec India, Natur Tec Lanka, Zerust Singapore, Zerust Vietnam, 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
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling
Research, Development, and Computer Software, Policy [Policy Text Block]	Research and Development
Stockholders' Equity, Policy [Policy Text Block]	Common Stock
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation
Subsequent Events, Policy [Policy Text Block]	Subsequent Events
Use of Estimates, Policy [Policy Text Block]	Use of Estimates

Note 1 - Nature of Business a_2

Note 1 - Nature of Business and Significant Accounting Policies (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Property and Equipment Useful Life [Table Text Block]	Buildings and improvements (in years) 5 - 30 Machinery and equipment (in years) 3 - 10

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	August 31, 2021 August 31, 2020 Production materials $ 4,453,688 $ 3,866,791 Finished goods 6,660,519 7,095,005 $ 11,114,207 $ 10,961,796

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment, Net (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	August 31, 2021 August 31, 2020 Land $ 310,365 $ 310,365 Buildings and improvements 13,149,258 8,167,783 Machinery and equipment 5,453,679 4,940,912 18,913,302 13,419,060 Less accumulated depreciation (7,091,844 ) (6,308,271 ) $ 11,821,458 $ 7,110,789

Note 5 - Patents and Trademar_2

Note 5 - Patents and Trademarks, Net (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	August 31, 2021 August 31, 2020 Patents and trademarks $ 3,018,507 $ 2,907,852 Less accumulated amortization (2,308,935 ) (2,105,846 ) $ 709,572 $ 802,006

Note 6 - Investments in Joint_2

Note 6 - Investments in Joint Ventures (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Condensed Balance Sheet [Table Text Block]	As of August 31, 2021 Total EXCOR OTHER Current assets $ 69,394,796 $ 33,886,655 $ 35,508,141 Total assets 73,814,402 36,211,520 37,602,882 Current liabilities 16,366,398 5,386,377 10,980,021 Noncurrent liabilities 1,455,524 - 1,455,524 Joint ventures’ equity 55,992,480 30,825,144 25,167,336 Northern Technologies International Corporation’s share of joint ventures’ equity 27,623,768 15,412,574 12,211,194 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings 24,702,778 14,697,490 10,005,288 As of August 31, 2020 Total EXCOR FRANCE FINLAND INDIA THAILAND OTHER Current assets $ 55,825,418 $ 25,742,619 $ 4,099,160 $ 1,955,879 $ 4,010,855 $ 4,022,399 $ 15,994,506 Total assets 60,295,587 28,449,772 4,873,484 2,261,147 4,242,660 4,055,451 16,413,073 Current liabilities 11,002,867 2,424,565 2,073,710 415,496 1,007,529 993,332 4,088,235 Noncurrent liabilities 365,274 — — — 32,999 — 332,275 Joint ventures’ equity 48,927,446 26,025,207 2,799,774 1,845,651 3,202,132 3,062,119 11,992,563 Northern Technologies International Corporation’s share of joint ventures’ equity 24,090,826 13,012,606 1,399,887 922,814 1,603,013 1,531,060 5,621,446 Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings 21,855,747 12,981,701 1,399,887 902,814 738,191 1,429,060 4,404,094
Condensed Income Statement [Table Text Block]	Fiscal Year Ended August 31, 2021 Total EXCOR OTHER Net sales $ 120,954,550 $ 46,522,688 $ 74,431,862 Gross profit 53,371,610 25,389,981 27,981,629 Net income 14,921,531 8,798,995 6,122,536 Northern Technologies International Corporation’s share of equity in income of joint ventures 7,465,214 4,400,403 3,064,811 Northern Technologies International Corporation’s dividends received from joint ventures 3,665,365 1,809,900 1,855,465 Fiscal Year Ended August 31, 2020 Total EXCOR FRANCE FINLAND INDIA THAILAND OTHER Net sales $ 87,030,062 $ 32,546,402 $ 8,133,294 $ 3,088,865 $ 5,481,303 $ 6,471,831 $ 31,308,367 Gross profit 39,532,750 18,739,471 3,061,433 1,916,001 2,498,196 2,046,478 11,271,171 Net income 8,545,473 5,266,541 473,137 419,728 697,349 503,884 1,184,834 Northern Technologies International Corporation’s share of equity in income of joint ventures 4,270,327 2,622,423 237,490 209,972 349,218 253,192 598,032 Northern Technologies International Corporation’s dividends received from joint ventures 5,672,099 4,675,850 — 325,635 261,220 160,074 249,320

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Dividends Declared [Table Text Block]	Declaration Date Amount Record Date Payable Date January 15, 2021 $ 0.065 February 3, 2021 February 17, 2021 April 23, 2021 $ 0.065 May 5, 2021 May 19, 2021 July 21, 2021 $ 0.065 August 4, 2021 August 18, 2021 Declaration Date Amount Record Date Payable Date October 22, 2019 $ 0.065 November 6, 2019 November 20, 2019 January 22, 2020 $ 0.065 February 5, 2020 February 19, 2020

Note 9 - Net Income (Loss) Pe_2

Note 9 - Net Income (Loss) Per Common Share (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Numerator: August 31, 2021 August 31, 2020 Net income (loss) attributable to NTIC $ 6,281,238 $ (1,337,709 ) Denominator: Basic-weighted shares outstanding 9,116,472 9,096,981 Weighted shares assumed upon exercise of stock options 757,667 - Diluted – weighted shares outstanding 9,874,139 9,096,981 Basic net income (loss) per share: $ 0.69 $ (0.15 ) Diluted net income (loss) per share: $ 0.64 $ (0.15 )

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Fiscal Year 2021 Fiscal Year 2020 Dividend yield 1.65 % 2.41 % Expected volatility 45.4 % 45.2 % Expected life of option (in years) 10 10 Weighted average risk-free interest rate 0.77 % 1.40 %
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares (#) Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding at August 31, 2019 839,173 $ 9.13 Options granted 300,770 10.87 Options exercised (11,975 ) 5.13 Options terminated — — Outstanding at August 31, 2020 1,127,968 $ 9.63 Options granted 419,874 8.24 Options exercised (77,645 ) 8.18 Options terminated (43,546 ) 9.63 Outstanding at August 31, 2021 1,426,651 $ 9.30 $ 10,514,418 Exercisable at August 31, 2021 1,022,802 $ 9.72 $ 7,108,474

Note 11 - Segment and Geograp_2

Note 11 - Segment and Geographic Information (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Fiscal 2021 Fiscal 2020 ZERUST® net sales $ 45,554,434 $ 34,474,535 Natur-Tec® net sales 10,939,385 13,164,156 Total net sales $ 56,493,819 $ 47,638,691
Reconciliation of Cost of Goods Sold from Segments to Consolidated [Table Text Block]	Fiscal 2021 Fiscal 2020 Direct cost of goods sold ZERUST® $ 26,028,555 $ 18,717,684 Natur-Tec® 7,717,429 10,168,051 Indirect cost of goods sold 3,174,830 2,723,539 Total net cost of goods sold $ 36,920,814 $ 31,609,274
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Fiscal Year Ended August 31, 2021 2020 Inside the U.S.A. to unaffiliated customers $ 22,039,456 $ 20,218,213 Outside the U.S.A. to: Joint ventures in which the Company is a shareholder directly and indirectly 3,023,196 1,972,646 Unaffiliated customers 31,431,167 25,447,832 $ 56,493,819 $ 47,638,691
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	At August 31, 2021 At August 31, 2020 China $ 5,110,071 $ 376,088 Other 453,199 172,833 United States 6,258,188 6,561,868 Total long-lived assets $ 11,821,458 $ 7,110,789
Revenue from External Customers by Geographic Areas [Table Text Block]	Fiscal Year Ended August 31, 2021 Fiscal Year Ended August 31, 2020 China $ 17,343,623 $ 13,409,770 Brazil 4,122,781 2,753,930 India 5,482,989 5,655,797 Other 7,504,970 5,600,982 United States 22,039,456 20,218,212 Total net sales $ 56,493,819 $ 47,638,691
Fees for Services Provided to Joint Ventures [Member]
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Fiscal 2021 % of Total Fees for Services Provided to Joint Ventures Fiscal 2020 % of Total Fees for Services Provided to Joint Ventures Germany $ 920,902 15.4 % $ 843,752 18.3 % Japan 826,403 13.9 % 628,889 13.6 % Poland 798,570 13.4 % 553,198 12.0 % Sweden 528,755 8.9 % 372,017 8.1 % France 435,032 7.3 % 310,661 6.7 % Thailand 399,563 6.7 % 328,452 7.1 % India 392,074 6.6 % 250,976 5.4 % Czech Republic 377,395 6.3 % 270,032 5.9 % South Korea 317,042 5.3 % 266,703 5.8 % United Kingdom 316,786 5.3 % 255,121 5.5 % Finland 298,663 5.0 % 256,375 5.6 % Indonesia 122,513 2.1 % 99,543 2.2 % Other 230,562 3.8 % 177,167 3.8 % $ 5,964,260 100.0 % $ 4,612,885 100.0 %

Note 14 - Income Taxes (Tables)

Note 14 - Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Fiscal Year Ended August 31, 2021 2020 Current: Federal $ — $ — State 39,000 23,000 Foreign 1,307,000 1,226,000 1,346,000 1,249,000 Deferred: Federal — 1,501,000 State — 101,000 Foreign 115,905 (176,365 ) 115,905 1,425,635 $ 1,461,905 $ 2,674,635
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Fiscal Year Ended August 31, 2021 2020 Tax computed at statutory rates $ 1,794,000 $ 365,000 State income tax, net of federal benefit 37,000 23,000 Tax effect on equity in income of international joint ventures (1,560,000 ) (888,000 ) Tax effect of foreign operations 839,000 641,000 Deemed repatriation — 108,000 Expired foreign tax credit 897,000 — Research and development credit (277,000 ) (368,000 ) Valuation allowance (492,000 ) 2,797,000 Stock based compensation 75,000 189,000 Non-controlling interest (83,000 ) (55,000 ) Other 231,905 (137.365 ) $ 1,461,905 $ 2,674,635
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	August 31, 2021 2020 Accrued compensation $ 539,300 $ 173,500 Inventory costs 55,100 64,000 Other accrued expenses 103,100 74,900 Lease liability 84,300 147,500 Goodwill and other intangible assets 453,000 581,200 Stock-based compensation 466,300 397,300 Foreign tax credit carryforward 4,893,300 5,790,500 Other credit and loss carryforwards 5,243,100 4,824,200 Total deferred tax assets 11,837,500 12,053,100 Valuation allowance (11,447,500 ) (11,561,700 ) Total deferred tax assets after valuation allowance 390,000 491,400 Property and equipment (7,300 ) (50,700 ) Right-of-use asset (84,300 ) (147,500 ) Unremitted foreign earnings (154,900 ) — Other (50,900 ) (83,400 ) Total deferred tax liabilities (297,400 ) (281,600 ) Net deferred tax assets $ 92,600 $ 209,800
Summary of Income Tax Contingencies [Table Text Block]	Fiscal Year Ended August 31, 2021 2020 Gross unrecognized tax benefits – beginning balance $ 278,200 $ 248,000 Gross increases – prior period tax positions 4,400 15,200 Gross increases – current period tax positions 15,000 15,000 Gross unrecognized tax benefits – ending balance $ 297,600 $ 278,200

Note 15 - Commitments and Con_2

Note 15 - Commitments and Contingencies (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Components of Operating Lease Assets and Liabilities [Table Text Block]	August 31, 2021 August 31, 2020 Right-of-use assets, net $ 376,438 $ 658,788 Current portion of lease liability 272,336 386,345 Lease liability, less current portion 104,102 272,443 Total lease liability $ 376,438 $ 658,788
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Fiscal 2022 272,336 Fiscal 2023 84,353 Fiscal 2024 26,700 Fiscal 2025 - Total future minimum lease payments 383,389 Less amount representing interest (6,951 ) Present value of obligations under operating leases 376,438 Less current portion (272,336 ) Long-term operating lease obligations $ 104,102

Note 16 - Statements of Cash _2

Note 16 - Statements of Cash Flows (Tables)	12 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Fiscal Year Ended August 31, 2021 2020 Cash paid during the year for income tax $ 895,646 $ 1,099,635 Cash paid during the year for interest 16,086 16,034

Note 17 - Fair Value Measurem_2

Note 17 - Fair Value Measurements (Tables)	12 Months Ended
	Aug. 31, 2021
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, 2021 Level 1 Level 2 Level 3 Available for sale securities $ 4,634 $ 4,634 $ — $ — Fair Value Measurements Using Inputs Considered as Fair value as of August 31, 2020 Level 1 Level 2 Level 3 Available for sale securities $ 5,544,722 $ 5,544,722 $ — $ —

Note 1 - Nature of Business a_3

Note 1 - Nature of Business and Significant Accounting Policies (Details Textual)	12 Months Ended
	Aug. 31, 2021USD ($)	Sep. 01, 2021	Aug. 31, 2020USD ($)
Number of Countries in which Entity Operates	65
Number of Operating Segments	2
Number of Joint Venture Arrangements	18
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 382,000		$ 90,000
Subsequent Event [Member] | Acquisition of Remaining Ownership Interest in Harita-NTI Limited [Member]
Business Acquisition, Percentage of Voting Interests Acquired		50.00%
Natur-Tech India [Member]
Noncontrolling Interest, Ownership Percentage by Parent	75.00%
Natur Tec Lanka [Member]
Noncontrolling Interest, Ownership Percentage by Parent	75.00%
Zerust Brazil [Member]
Noncontrolling Interest, Ownership Percentage by Parent	85.00%
NTI Asean LLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent	60.00%
Zerust Singapore Pte Ltd [Member]
Noncontrolling Interest, Ownership Percentage by Parent	60.00%
Zerust Vietnam Co. Ltd [Member]
Noncontrolling Interest, Ownership Percentage by Parent	60.00%
Maximum [Member] | Various Joint Ventures [Member]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

Note 1 - Nature of Business a_4

Note 1 - Nature of Business and Significant Accounting Policies - Property and Equipment, Useful Life (Details)	12 Months Ended
	Aug. 31, 2021
Building and Building Improvements [Member] | Minimum [Member]
Property and equipment (Year)	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property and equipment (Year)	30 years
Machinery and Equipment [Member] | Minimum [Member]
Property and equipment (Year)	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property and equipment (Year)	10 years

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventories (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Production materials	$ 4,453,688	$ 3,866,791
Finished goods	6,660,519	7,095,005
Total inventory	$ 11,114,207	$ 10,961,796

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Land	$ 310,365	$ 310,365
Buildings and improvements	13,149,258	8,167,783
Machinery and equipment	5,453,679	4,940,912
Gross	18,913,302	13,419,060
Less accumulated depreciation	(7,091,844)	(6,308,271)
Net	$ 11,821,458	$ 7,110,789

Note 5 - Patents and Trademar_3

Note 5 - Patents and Trademarks, Net (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Amortization, Total	$ 203,088	$ 231,624
Patents and Trademarks [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	7 years
Amortization, Total	$ 203,088
Finite-Lived Intangible Asset, Expected Amortization, Year One	190,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	190,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	190,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	$ 190,000

Note 5 - Patents and Trademar_4

Note 5 - Patents and Trademarks, Net - Patents and Trademarks, Net (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Patents and trademarkes, net	$ 709,572	$ 802,006
Patents and Trademarks [Member]
Patents and trademarks	3,018,507	2,907,852
Less accumulated amortization	(2,308,935)	(2,105,846)
Patents and trademarkes, net	$ 709,572	$ 802,006

Note 6 - Investments in Joint_3

Note 6 - Investments in Joint Ventures (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Payments to Acquire Interest in Joint Venture	$ 0	$ 0

Note 6 - Investments in Joint_4

Note 6 - Investments in Joint Ventures - Condensed Balance Sheet of EXCOR and All Other Joint Ventures (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Current assets	$ 33,747,089	$ 33,202,350
Total assets	74,370,879	66,074,488
Current liabilities	8,516,196	6,097,604
Noncurrent liabilities	104,102	272,443
Joint ventures’ equity	62,368,026	56,659,415
Investments in joint ventures	27,623,768	24,090,826
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Current assets	69,394,796	55,825,418
Total assets	73,814,402	60,295,587
Current liabilities	16,366,398	11,002,867
Noncurrent liabilities	1,455,524	365,274
Joint ventures’ equity	55,992,480	48,927,446
Investments in joint ventures	27,623,768	24,090,826
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	24,702,778	21,855,747
EXCOR [Member]
Current assets	33,886,655	25,742,619
Total assets	36,211,520	28,449,772
Current liabilities	5,386,377	2,424,565
Noncurrent liabilities	0	0
Joint ventures’ equity	30,825,144	26,025,207
Investments in joint ventures	15,412,574	13,012,606
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	14,697,490	12,981,701
All Other [Member]
Current assets	35,508,141	15,994,506
Total assets	37,602,882	16,413,073
Current liabilities	10,980,021	4,088,235
Noncurrent liabilities	1,455,524	332,275
Joint ventures’ equity	25,167,336	11,992,563
Investments in joint ventures	12,211,194	5,621,446
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings	$ 10,005,288	4,404,094
Joint Ventures in France [Member]
Current assets		4,099,160
Total assets		4,873,484
Current liabilities		2,073,710
Noncurrent liabilities		0
Joint ventures’ equity		2,799,774
Investments in joint ventures		1,399,887
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		1,399,887
Joint Ventures in Finland [Member]
Current assets		1,955,879
Total assets		2,261,147
Current liabilities		415,496
Noncurrent liabilities		0
Joint ventures’ equity		1,845,651
Investments in joint ventures		922,814
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		902,814
Joint Ventures in India [Member]
Current assets		4,010,855
Total assets		4,242,660
Current liabilities		1,007,529
Noncurrent liabilities		32,999
Joint ventures’ equity		3,202,132
Investments in joint ventures		1,603,013
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		738,191
Joint Ventures in Thailand [Member]
Current assets		4,022,399
Total assets		4,055,451
Current liabilities		993,332
Noncurrent liabilities		0
Joint ventures’ equity		3,062,119
Investments in joint ventures		1,531,060
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings		$ 1,429,060

Note 6 - Investments in Joint_5

Note 6 - Investments in Joint Ventures - Condensed Income Statement of EXCOR and All Other Joint Ventures (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Net sales by segment	$ 56,493,819	$ 47,638,691
Gross profit	19,573,005	16,029,417
Net income (loss) attributable to NTIC	6,281,238	(1,337,709)
Northern Technologies International Corporation’s share of equity in income of joint ventures	7,465,214	4,270,327
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Net sales by segment	120,954,550	87,030,062
Gross profit	53,371,610	39,532,750
Net income (loss) attributable to NTIC	14,921,531	8,545,473
Northern Technologies International Corporation’s share of equity in income of joint ventures	7,465,214	4,270,327
Northern Technologies International Corporation’s dividends received from joint ventures	3,665,365	5,672,099
EXCOR [Member]
Net sales by segment	46,522,688	32,546,402
Gross profit	25,389,981	18,739,471
Net income (loss) attributable to NTIC	8,798,995	5,266,541
Northern Technologies International Corporation’s share of equity in income of joint ventures	4,400,403	2,622,423
Northern Technologies International Corporation’s dividends received from joint ventures	1,809,900	4,675,850
All Other [Member]
Net sales by segment	74,431,862	31,308,367
Gross profit	27,981,629	11,271,171
Net income (loss) attributable to NTIC	6,122,536	1,184,834
Northern Technologies International Corporation’s share of equity in income of joint ventures	3,064,811	598,032
Northern Technologies International Corporation’s dividends received from joint ventures	$ 1,855,465	249,320
Joint Ventures in France [Member]
Net sales by segment		8,133,294
Gross profit		3,061,433
Net income (loss) attributable to NTIC		473,137
Northern Technologies International Corporation’s share of equity in income of joint ventures		237,490
Northern Technologies International Corporation’s dividends received from joint ventures		0
Joint Ventures in Finland [Member]
Net sales by segment		3,088,865
Gross profit		1,916,001
Net income (loss) attributable to NTIC		419,728
Northern Technologies International Corporation’s share of equity in income of joint ventures		209,972
Northern Technologies International Corporation’s dividends received from joint ventures		325,635
Joint Ventures in India [Member]
Net sales by segment		5,481,303
Gross profit		2,498,196
Net income (loss) attributable to NTIC		697,349
Northern Technologies International Corporation’s share of equity in income of joint ventures		349,218
Northern Technologies International Corporation’s dividends received from joint ventures		261,220
Joint Ventures in Thailand [Member]
Net sales by segment		6,471,831
Gross profit		2,046,478
Net income (loss) attributable to NTIC		503,884
Northern Technologies International Corporation’s share of equity in income of joint ventures		253,192
Northern Technologies International Corporation’s dividends received from joint ventures		$ 160,074

Note 7 - Corporate Debt (Detail

Note 7 - Corporate Debt (Details Textual)	Aug. 31, 2021USD ($)	Aug. 31, 2021USD ($)	Aug. 30, 2021USD ($)	Aug. 31, 2020USD ($)
PNC Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000	$ 5,000,000	$ 3,000,000
Long-term Line of Credit, Total	$ 0	$ 0		$ 0
Debt Instrument, Covenants, Fixed Charge Coverage Ratio		1.10
Letters of Credit Outstanding, Amount				$ 0
PNC Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
JP Morgan Chase Bank [Member]
Letters of Credit Outstanding, Amount	$ 104,363	$ 104,363

Note 8 - Stockholders' Equity_2

Note 8 - Stockholders' Equity (Details Textual) - USD ($)	Jul. 21, 2021	Apr. 23, 2021	Jan. 15, 2021	Jan. 22, 2020	Oct. 22, 2019	Nov. 30, 2020	Aug. 31, 2020	May 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Jan. 15, 2015
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0	$ 0	$ 0	$ 0.20	$ 0.13
Stock Repurchase Program, Authorized Amount											$ 3,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount									$ 2,640,548
Stock Repurchased and Retired During Period, Shares (in shares)									0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Including Cashless Exercises (in shares)									77,645	11,975
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)									$ 8.18	$ 5.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)									74,950	6,823

Note 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Cash Dividends Declared (Details) - $ / shares	Jul. 21, 2021	Apr. 23, 2021	Jan. 15, 2021	Jan. 22, 2020	Oct. 22, 2019	Nov. 30, 2020	Aug. 31, 2020	May 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Amount (in dollars per share)	$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0.065	$ 0	$ 0	$ 0	$ 0.20	$ 0.13
Record date	Aug. 4, 2021	May 5, 2021	Feb. 3, 2021	Feb. 5, 2020	Nov. 6, 2019
Payable date	Aug. 18, 2021	May 19, 2021	Feb. 17, 2021	Feb. 19, 2020	Nov. 20, 2019

Note 9 - Net Income (Loss) Pe_3

Note 9 - Net Income (Loss) Per Common Share (Details Textual) - shares	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	136,221	1,127,968

Note 9 - Net Income (Loss) Pe_4

Note 9 - Net Income (Loss) Per Common Share - Reconciliation of the Earnings Per Share Computations (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Net income (loss) attributable to NTIC	$ 6,281,238	$ (1,337,709)
Basic-weighted shares outstanding (in shares)	9,116,472	9,096,981
Weighted shares assumed upon exercise of stock options (in shares)	757,667	0
Diluted – weighted shares outstanding (in shares)	9,874,139	9,096,981
Basic net income (loss) per share: (in dollars per share)	$ 0.69	$ (0.15)
Diluted net income (loss) per share: (in dollars per share)	$ 0.64	$ (0.15)

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation (Details Textual) - USD ($)	Mar. 01, 2021	Jan. 15, 2021	Sep. 01, 2020	Mar. 01, 2020	Sep. 01, 2019	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						419,874	300,770
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)	5,225		4,646	2,754	3,597
Stock or Unit Option Plan Expense						$ 664,174	$ 1,337,774
Allocated Share-based Compensation Expense, Estimate, Fiscal Year Two						$ 666,667
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 8.24	$ 10.87
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)						6 years 2 months 12 days	5 years 1 month 2 days
The 2019 Plan [member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)		800,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)						1,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)						10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						419,874	300,770
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)						879,356
The 2019 Plan [member] | One Year after Date of Grant [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)						1 year
The 2019 Plan [member] | One Year after Date of Grant [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)						3 years
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)						200,000
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent						90.00%
Common Stock, Capital Shares Reserved for Future Issuance (in shares)						74,822

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation - Black-Scholes Option-pricing Model Assumptions (Details)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Dividend yield	1.65%	2.41%
Expected volatility	45.40%	45.20%
Expected life of option (in years) (Year)	10 years	10 years
Weighted average risk-free interest rate	0.77%	1.40%

Note 10 - Stock-based Compens_5

Note 10 - Stock-based Compensation - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Number of shares, Outstanding (in shares)	1,127,968	839,173
Weighted average exercise price, Outstanding (in dollars per share)	$ 9.63	$ 9.13
Number of shares, Options granted (in shares)	419,874	300,770
Weighted average exercise price, Options granted (in dollars per share)	$ 8.24	$ 10.87
Number of shares, Options exercised (in shares)	(77,645)	(11,975)
Weighted average exercise price, Options exercised (in dollars per share)	$ 8.18	$ 5.13
Number of shares, Options terminated (in shares)	(43,546)	0
Weighted average exercise price, Options terminated (in dollars per share)	$ 9.63	$ 0
Number of shares, Outstanding (in shares)	1,426,651	1,127,968
Weighted average exercise price, Outstanding (in dollars per share)	$ 9.30	$ 9.63
Aggregate intrinsic value, Outstanding	$ 10,514,418
Number of shares, Exercisable (in shares)	1,022,802
Weighted average exercise price, Exercisable (in dollars per share)	$ 9.72
Aggregate intrinsic value, Exercisable	$ 7,108,474

Note 11 - Segment and Geograp_3

Note 11 - Segment and Geographic Information (Details Textual)	12 Months Ended
	Aug. 31, 2021
Number of Reportable Segments	2

Note 11 - Segment and Geograp_4

Note 11 - Segment and Geographic Information - Net Sales by Segment (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Net sales by segment	$ 56,493,819	$ 47,638,691
ZERUST [Member]
Net sales by segment	45,554,434	34,474,535
NaturTec [Member]
Net sales by segment	$ 10,939,385	$ 13,164,156

Note 11 - Segment and Geograp_5

Note 11 - Segment and Geographic Information - Cost of Goods Sold by Segment (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Cost of goods sold	$ 36,920,814	$ 31,609,274
Direct Cost of Goods Sold [Member] | ZERUST [Member]
Cost of goods sold	26,028,555	18,717,684
Direct Cost of Goods Sold [Member] | NaturTec [Member]
Cost of goods sold	7,717,429	10,168,051
Indirect Cost of Goods Sold [Member]
Cost of goods sold	$ 3,174,830	$ 2,723,539

Note 11 - Segment and Geograp_6

Note 11 - Segment and Geographic Information - Net Sales by Geographic Location (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Net sales by segment	$ 56,493,819	$ 47,638,691
Inside the USA to Unaffiliated Customers [Member]
Net sales by segment	22,039,456	20,218,213
Joint Ventures in Which the Company is a Shareholder Directly and Indirectly Outside the USA [Member]
Net sales by segment	3,023,196	1,972,646
Unaffiliated Customers Outside the USA [Member]
Net sales by segment	$ 31,431,167	$ 25,447,832

Note 11 - Segment and Geograp_7

Note 11 - Segment and Geographic Information - Fees for Services Provided to Joint Ventures by Geographic Location as a Percentage of Total Fees (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Fees	$ 5,964,260	$ 4,612,885
Percentage of Total Fees	100.00%	100.00%
GERMANY
Fees	$ 920,902	$ 843,752
Percentage of Total Fees	15.40%	18.30%
JAPAN
Fees	$ 826,403	$ 628,889
Percentage of Total Fees	13.90%	13.60%
POLAND
Fees	$ 798,570	$ 553,198
Percentage of Total Fees	13.40%	12.00%
SWEDEN
Fees	$ 528,755	$ 372,017
Percentage of Total Fees	8.90%	8.10%
FRANCE
Fees	$ 435,032	$ 310,661
Percentage of Total Fees	7.30%	6.70%
THAILAND
Fees	$ 399,563	$ 328,452
Percentage of Total Fees	6.70%	7.10%
INDIA
Fees	$ 392,074	$ 250,976
Percentage of Total Fees	6.60%	5.40%
CZECHIA
Fees	$ 377,395	$ 270,032
Percentage of Total Fees	6.30%	5.90%
KOREA, REPUBLIC OF
Fees	$ 317,042	$ 266,703
Percentage of Total Fees	5.30%	5.80%
UNITED KINGDOM
Fees	$ 316,786	$ 255,121
Percentage of Total Fees	5.30%	5.50%
FINLAND
Fees	$ 298,663	$ 256,375
Percentage of Total Fees	5.00%	5.60%
INDONESIA
Fees	$ 122,513	$ 99,543
Percentage of Total Fees	2.10%	2.20%
Other Countries [Member]
Fees	$ 230,562	$ 177,167
Percentage of Total Fees	3.80%	3.80%

Note 11 - Segment and Geograp_8

Note 11 - Segment and Geographic Information - Total Long-lived Assets by Geographic Distribution (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Total long-lived assets	$ 11,821,458	$ 7,110,789
CHINA
Total long-lived assets	5,110,071	376,088
Other Countries [Member]
Total long-lived assets	453,199	172,833
UNITED STATES
Total long-lived assets	$ 6,258,188	$ 6,561,868

Note 11 - Segment and Geograp_9

Note 11 - Segment and Geographic Information - Total Net Sales by Geographic Distribution (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Net sales by segment	$ 56,493,819	$ 47,638,691
CHINA
Net sales by segment	17,343,623	13,409,770
BRAZIL
Net sales by segment	4,122,781	2,753,930
INDIA
Net sales by segment	5,482,989	5,655,797
Other Countries [Member]
Net sales by segment	7,504,970	5,600,982
UNITED STATES
Net sales by segment	$ 22,039,456	$ 20,218,212

Note 12 - Retirement Plan (Deta

Note 12 - Retirement Plan (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
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	$ 237,499	$ 234,534

Note 13 - Related Party Trans_2

Note 13 - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Bioplastic Polymers LLC [Member] | Consulting Payment Expense [Member]
Related Party Transaction, Amounts of Transaction	$ 144,000	$ 144,000

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Foreign Withholding Tax	$ 113,000	$ (76,000)
Tax Credit Carryforward, Foreign, Expirations in Period	897,000
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	1,065,500
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	377,600
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	247,500
Tax Credit Carryforward, Valuation Allowance	11,447,500	11,561,700
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	114,000	2,797,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	0	0
Foreign Tax Authority [Member]
Tax Credit Carryforward, Amount	4,893,300	$ 5,790,500
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	223,300
Federal and State Tax [Member]
Tax Credit Carryforward, Amount	$ 3,552,500

Note 14 - Income Taxes - Provis

Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Federal	$ 0	$ 0
State	39,000	23,000
Foreign	1,307,000	1,226,000
Total current	1,346,000	1,249,000
Federal	0	1,501,000
State	0	101,000
Foreign	115,905	(176,365)
Total deferred	115,905	1,425,635
Total income tax expense	$ 1,461,905	$ 2,674,635

Note 14 - Income Taxes - Reconc

Note 14 - 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, 2021	Aug. 31, 2020
Tax computed at statutory rates	$ 1,794,000	$ 365,000
State income tax, net of federal benefit	37,000	23,000
Tax effect on equity in income of international joint ventures	(1,560,000)	(888,000)
Tax effect of foreign operations	839,000	641,000
Deemed repatriation	0	108,000
Expired foreign tax credit	897,000	0
Research and development credit	(277,000)	(368,000)
Valuation allowance	(492,000)	2,797,000
Stock based compensation	75,000	189,000
Non-controlling interest	(83,000)	(55,000)
Other	231,905	(137.365)
Total income tax expense	$ 1,461,905	$ 2,674,635

Note 14 - Income Taxes - Tax Ef

Note 14 - Income Taxes - Tax Effect of the Temporary Differences and Tax Carry Forwards Comprising Net Deferred Taxes (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Accrued compensation	$ 539,300	$ 173,500
Inventory costs	55,100	64,000
Other accrued expenses	103,100	74,900
Lease liability	84,300	147,500
Goodwill and other intangible assets	453,000	581,200
Stock-based compensation	466,300	397,300
Foreign tax credit carryforward	4,893,300	5,790,500
Other credit and loss carryforwards	5,243,100	4,824,200
Total deferred tax assets	11,837,500	12,053,100
Valuation allowance	(11,447,500)	(11,561,700)
Total deferred tax assets after valuation allowance	390,000	491,400
Property and equipment	(7,300)	(50,700)
Right-of-use asset	(84,300)	(147,500)
Unremitted foreign earnings	(154,900)	0
Other	(50,900)	(83,400)
Total deferred tax liabilities	(297,400)	(281,600)
Net deferred tax assets	$ 92,600	$ 209,800

Note 14 - Income Taxes - Reco_2

Note 14 - Income Taxes - Reconciliation of the Total Amounts of Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Gross unrecognized tax benefits – beginning balance	$ 278,200	$ 248,000
Gross increases – prior period tax positions	4,400	15,200
Gross increases – current period tax positions	15,000	15,000
Gross unrecognized tax benefits – ending balance	$ 297,600	$ 278,200

Note 15 - Commitments and Con_3

Note 15 - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Lessee, Operating Lease, Option to Extend Term One (Year)	5 years
Lessee, Operating Lease, Option to Extend Term Two (Year)	10 years
Finance and Operating Lease, Weighted Average Remaining Lease Term (Year)	1 year 6 months
Operating Lease, Weighted Average Discount Rate, Percent	2.31%
Operating Lease, Expense	$ 386,345	$ 131,840
Accrued Bonuses	$ 2,366,668	$ 1,300,000
Entity Wide Trade Joint Venture Receivables, Three Joint Ventures, Percentage	37.40%	88.20%
Stock Options Granted to Management [Member]
Accrued Bonuses	$ 266,667	$ 800,000
Accrued Bonuses, to Be Paid as Stock Options, Period (Year)	3 years
Paid Out in Cash and Profit Sharing [Member]
Accrued Bonuses	$ 2,100,000	$ 500,000
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 15 - Commitments and Con_4

Note 15 - Commitments and Contingencies - Present Value of Long-term Leases (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Right-of-use assets, net	$ 376,438	$ 658,788
Current portion of lease liability	272,336	386,345
Lease liability, less current portion	104,102	272,443
Total lease liability	$ 376,438	$ 658,788

Note 15 - Commitments and Con_5

Note 15 - Commitments and Contingencies - Future Minimum Rents Due (Details) - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Fiscal 2022	$ 272,336
Fiscal 2023	84,353
Fiscal 2024	26,700
Fiscal 2025	0
Total future minimum lease payments	383,389
Less amount representing interest	(6,951)
Present value of obligations under operating leases	376,438	$ 658,788
Less current portion	(272,336)	(386,345)
Long-term operating lease obligations	$ 104,102	$ 272,443

Note 16 - Statements of Cash _3

Note 16 - Statements of Cash Flows - Supplemental Disclosures of Cash Flow Information (Details) - USD ($)	12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Cash paid during the year for income tax	$ 895,646	$ 1,099,635
Cash paid during the year for interest	$ 16,086	$ 16,034

Note 17 - Fair Value Measurem_3

Note 17 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Aug. 31, 2021	Aug. 31, 2020
Available for sale securities	$ 4,634	$ 5,544,722
Fair Value, Inputs, Level 1 [Member]
Available for sale securities	4,634	5,544,722
Fair Value, Inputs, Level 2 [Member]
Available for sale securities	0	0
Fair Value, Inputs, Level 3 [Member]
Available for sale securities	$ 0	$ 0

Note 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual) - USD ($)

Oct. 20, 2021

Sep. 01, 2021

Aug. 31, 2021

Jul. 21, 2021

Apr. 23, 2021

Jan. 15, 2021

Jan. 22, 2020

Oct. 22, 2019

Nov. 30, 2020

Aug. 31, 2020

May 31, 2020

Aug. 31, 2021

Aug. 31, 2020

Aug. 30, 2021

Common Stock, Dividends, Per Share, Declared (in dollars per share)

$ 0.065

$ 0.065

$ 0.065

$ 0.065

$ 0.065

$ 0

$ 0

$ 0

$ 0.20

$ 0.13

Dividends Payable, Date to be Paid

Aug. 18, 2021

May 19, 2021

Feb. 17, 2021

Feb. 19, 2020

Nov. 20, 2019

Dividends Payable, Date of Record

Aug. 4, 2021

May 5, 2021

Feb. 3, 2021

Feb. 5, 2020

Nov. 6, 2019

Revolving Credit Facility [Member] | PNC Bank [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 5,000,000

$ 5,000,000

$ 3,000,000

Revolving Credit Facility [Member] | PNC Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]

Debt Instrument, Basis Spread on Variable Rate

2.50%

Subsequent Event [Member]

Common Stock, Dividends, Per Share, Declared (in dollars per share)

$ 0.07

Dividends Payable, Date to be Paid

Nov. 17, 2021

Dividends Payable, Date of Record

Nov. 3, 2021

Subsequent Event [Member] | Acquisition of Remaining Ownership Interest in Harita-NTI Limited [Member]

Business Acquisition, Percentage of Voting Interests Acquired

50.00%

Payments to Acquire Businesses, Gross

$ 6,250,000