Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.8.0.1
SHAREHOLDERS' EQUITY (Tables)
 9 Months Ended
May 31, 2018
SHAREHOLDERS EQUITY [Abstract]  
Stock Option Activity
The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2018:

   
Number of
Options
    
Weighted-
Average
Exercise Price
    
Weighted-
Average
Remaining
Contractual
Term
    
Approximate
Aggregate
Instrinsic
Value
  
Oustanding at August 31, 2017
    
465,500
    
$
4.88
      
6.30
    
$
1,007,740
  
Granted (1)
   
82,500
      
8.05
                  
Exercised
    
(10,000
)
    
7.50
                  
Forfeited or expired
    
(2,500
)
    
7.50
                  
Outstanding at May 31, 2018
    
535,500
    
$
5.31
      
6.29
    
$
2,163,540
  
                                 
Options exercisable at May 31, 2018
    
379,668
    
$
4.66
      
5.21
    
$
1,780,275
  

 
(1)
Includes 50,000 shares granted to Mr. Harding on September 27, 2017 and 32,500 total shares granted to the board of directors on January 17, 2018.
Combined Activity and Value of Non-vested Options
The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2018:

   
Number of
Options
    
Weighted-
Average Grant
Date Fair
Value
  
Non-vested options oustanding at August 31, 2017
    
147,500
    
$
3.64
  
Granted
    
82,500
      
4.41
  
Vested
    
(74,168
)
    
2.84
  
Forfeited
    
-
      
-
  
Non-vested options outstanding at February 28, 2018
    
155,832
    
$
3.76