Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Tables)

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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Aug. 31, 2016
Shareholders Equity Tables  
Schedule of stock option activity
    Number of Options     Weighted-Average Exercise Price     Weighted-Average Remaining Contractual Term     Approximate Aggregate Intrinsic Value  
Outstanding at beginning of period     312,000     $ 5.10              
Granted     36,000     $ 4.26              
Exercised     -     $ -              
Forfeited or expired     (10,000 )   $ 13.25              
Outstanding at August 31, 2016     338,000     $ 4.77       5.68     $ 248,000  
                                 
Options exercisable at August 31, 2016     302,000     $ 4.83       5.36     $ 227,100  
Schedule of activity and value of non-vested options
    Number of Options     Weighted-Average Grant Date Fair Value  
Non-vested options outstanding at beginning of period     59,333     $ 3.66  
Granted     36,000       2.89  
Vested     (59,333 )     3.66  
Forfeited     -       -  
Non-vested options outstanding at August 31, 2016     36,000     $ 2.89