Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Details)

v3.8.0.1
SHAREHOLDERS' EQUITY (Details) - USD ($)
12 Months Ended
Aug. 31, 2017
Aug. 31, 2016
Number of options    
Outstanding, beginning 338,000  
Granted 142,500  
Exercised 0 0
Forfeited or expired (15,000)  
Outstanding, ending 465,500 338,000
Exercisable 318,000  
Weighted average exercise price    
Outstanding, beginning $ 4.77  
Granted 5.47  
Exercised 0.00  
Forfeited or expired 7.88  
Outstanding, ending 4.88 $ 4.77
Exercisable $ 4.63  
Weighted average remaining contractual term    
Outstanding, ending 6 years 3 months 18 days  
Exercisable 4 years 11 months 23 days  
Approximate aggregate intrinsic value    
Outstanding, ending $ 1,007,740  
Exercisable $ 1,358,140