Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Tables)

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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Aug. 31, 2017
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 August 31, 2016     338,000     $ 4.77              
Granted     142,500     $ 5.47              
Exercised     -     $ -              
Forfeited or expired     (15,000 )   $ 7.88              
Outstanding at August 31, 2017     465,500     $ 4.88       6.30     $ 1,007,740  
                                 
Options exercisable at August 31, 2017     318,000     $ 4.63       4.98     $ 1,358,140  
Schedule of activity and value of non-vested options
    Number of Options     Weighted-Average Grant Date Fair Value  
Non-vested options outstanding at August 31, 2016     36,000     $ 2.89  
Granted     142,500       3.67  
Vested     (31,000 )     2.92  
Forfeited     -       -  
Non-vested options outstanding at August 31, 2017     147,500     $ 3.64