Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Tables)

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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Aug. 31, 2015
Shareholders Equity Tables  
Schedule of stock option activity
    Number of Options    

Weighted-Average

Exercise Price

    

Weighted-Average

Remaining Contractual Term

  

Approximate Aggregate

Instrinsic Value

  
Oustanding at beginning of period     315,000     $ 5.76            
Granted     26,000     $ 4.17            
Exercised     (16,500 )   $ 2.96            
Forfeited or expired     (12,500 )   $ 7.21            
Outstanding at August 31, 2015     312,000     $ 6.61     6.18     $ 289,450  
                               
Options exercisable at August 31, 2015     252,667     $ 5.09     5.62     $ 311,030  
Schedule of activity and value of non-vested options
    Number of Options    

Weighted-Average

 Grant Date Fair Value

  
Non-vested options oustanding at beginning of period     99,167     $ 4.85  
Granted     26,000       2.78  
Vested     (65,834 )     4.26  
Forfeited     -       -  
Non-vested options outstanding at August 31, 2015     59,333     $ 4.59