Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY, Equity Compensation Plan (Details)

v3.20.2
SHAREHOLDERS' EQUITY, Equity Compensation Plan (Details)
 12 Months Ended
Aug. 31, 2020
USD ($)
BoardMember
$ / shares
shares
Aug. 31, 2019
USD ($)
$ / shares
shares
Aug. 31, 2018
USD ($)
$ / shares
shares
Stock Options [Abstract]      
Share-based compensation expense | $ $ 517,024 $ 336,228  
2014 Equity Plan [Member]      
Shareholders' Equity [Abstract]      
Reserved shares of common stock for issuance (in shares) 1,088,500 1,230,500  
Stock awards and awards to purchase shares of common stock (in shares) 511,500    
Options expired (in shares) (6,500) 0  
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Expected term 6 years 5 years 9 months 18 days  
Risk-free interest rate 1.71% 2.93%  
Expected volatility 39.32% 41.83%  
Expected dividend yield 0.00% 0.00%  
Weighted average grant-date fair value (in dollars per share) | $ / shares $ 4.19 $ 4.60  
Number of Options [Roll Forward]      
Exercised (in shares) (17,500) (62,500)  
2014 Equity Plan [Member] | Minimum [Member]      
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Expected term 5 years    
2014 Equity Plan [Member] | Maximum [Member]      
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Expected term 10 years    
2014 Equity Plan [Member] | Employees [Member]      
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Weighted average grant-date fair value (in dollars per share) | $ / shares $ 4.21    
Number of Options [Roll Forward]      
Granted (in shares) 80,000    
Stock Options [Abstract]      
Vesting period 3 years    
Expiration period 10 years    
2014 Equity Plan [Member] | Executive Officer [Member]      
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Weighted average grant-date fair value (in dollars per share) | $ / shares $ 4.16 $ 5.06  
Number of Options [Roll Forward]      
Granted (in shares) 50,000 50,000  
Stock Options [Abstract]      
Vesting period 3 years 3 years  
Expiration period 10 years 10 years  
2014 Equity Plan [Member] | Non-Employee Board Members [Member]      
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Weighted average grant-date fair value | $   $ 126,700  
Number of Options [Roll Forward]      
Granted (in shares) 2,000 32,500  
Stock Options [Abstract]      
Vesting period   1 year  
Expiration period   10 years  
Number of board members | BoardMember 6    
Stock price (in dollars per share) | $ / shares $ 12.45    
Share-based compensation expense | $ $ 149,400 $ 0  
2004 Incentive Plan and 2014 Equity Plan [Member]      
Variable Assumptions Used in Fair Value Calculations [Abstract]      
Weighted average grant-date fair value (in dollars per share) | $ / shares $ 4.19 $ 4.60  
Number of Options [Roll Forward]      
Outstanding, beginning of period (in shares) 555,500 535,500  
Granted (in shares) 130,000 82,500  
Exercised (in shares) (17,500) (62,500)  
Forfeited or expired (in shares) (6,500) 0  
Outstanding, end of period (in shares) 661,500 555,500 535,500
Options exercisable (in shares) 481,501    
Weighted Average Exercise Price [Roll Forward]      
Outstanding, beginning of period (in dollars per share) | $ / shares $ 6.33 $ 5.31  
Granted (in dollars per share) | $ / shares 10.41 10.48  
Exercised (in dollars per share) | $ / shares 2.81 3.09  
Forfeited or expired (in dollars per share) | $ / shares 6.08 0  
Outstanding, end of period (in dollars per share) | $ / shares 7.23 $ 6.33 $ 5.31
Options exercisable (in dollars per share) | $ / shares $ 6.08    
Stock Options [Abstract]      
Weighted average remaining contractual term 6 years 2 months 1 day 6 years 3 months 7 days 6 years 14 days
Weighted average remaining contractual term, options exercisable 5 years 2 months 19 days    
Approximate aggregate intrinsic value | $ $ 1,831,075 $ 2,527,590 $ 3,180,990
Approximate aggregate intrinsic value, options exercisable | $ 1,795,076    
Share-based compensation expense | $ $ 517,000 $ 336,200