Quarterly report pursuant to Section 13 or 15(d)

5. SHAREHOLDERS' EQUITY (Tables)

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5. SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Nov. 30, 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, 2017     465,500     $ 4.88       6.30     $ 1,007,740  
Granted (1)     50,000       7.60                  
Exercised     —         —                    
Forfeited or expired     —         —                    
Outstanding at November 30, 2017     515,500     $ 5.15       6.42     $ 969,340  
                                 
Options exercisable at November 30, 2017     354,668     $ 4.73       5.16     $ 794,448  

 

(1) Includes 50,000 shares granted to Mr. Harding on September 27, 2017. 
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, 2017     147,500     $ 3.64  
Granted     50,000       5.17  
Vested     (36,668 )     3.73  
Forfeited     —         —    
Non-vested options outstanding at November 30, 2017     160,832     $ 4.10