Quarterly report pursuant to Section 13 or 15(d)

5. SHAREHOLDERS' EQUITY (Details)

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5. SHAREHOLDERS' EQUITY (Details)
 9 Months Ended
May 31, 2017
USD ($)
$ / shares
shares
Number of options  
Outstanding, beginning | shares 338,000
Granted | shares 142,500
Exercised | shares 0
Forfeited or expired | shares (10,000)
Outstanding, ending | shares 470,500
Exercisable | shares 323,000
Weighted average exercise price  
Outstanding, beginning | $ / shares $ 4.83
Granted | $ / shares 5.47
Exercised | $ / shares 0.00
Forfeited or expired | $ / shares 8.02
Outstanding, ending | $ / shares 4.91
Exercisable | $ / shares $ 4.68
Weighted average remaining contractual term  
Outstanding, ending 6 years 5 months 23 days
Exercisable 5 years 1 month 28 days
Approximate aggregate intrinsic value  
Outstanding, ending | $ $ 1,354,390
Exercisable | $ $ 1,003,990