INCOME TAXES (Details 1) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Aug. 31, 2015 |
Aug. 31, 2014 |
Aug. 31, 2013 |
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| Income Taxes Details 1 | |||
| Expected benefit from federal taxes at statutory rate of 34% | $ (7,863,500) | $ (105,900) | $ (1,411,200) |
| State taxes, net of federal benefit | (763,200) | (10,300) | (137,000) |
| Expiration of net operating losses | 0 | 89,400 | 147,400 |
| Sale of land and water assets | (14,239,200) | 4,078,800 | 0 |
| Permanent and other differences | 91,900 | 96,500 | 27,400 |
| Change in valuation allowance | 23,066,700 | (4,148,500) | 1,373,400 |
| Total income tax expense / benefit | $ 292,700 | $ 0 | $ 0 |
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
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