Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.20.1
SHAREHOLDERS' EQUITY (Tables)
 6 Months Ended
Feb. 29, 2020
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 six months ended February 29, 2020:

   
Number
of Options
    
Weighted Average
Exercise Price
    
Weighted Average
Remaining
Contractual Term
    
Approximate
Aggregate
Intrinsic Value
  
Outstanding at August 31, 2019
    
555,500
    
$
6.33
      
6.27
    
$
2,527,590
  
Granted (1)
    
130,000
    
$
10.41
                  
Exercised
    
(12,500
)
  
$
2.83
                  
Forfeited or expired
    
—
    
$
—
                  
Outstanding at February 29, 2020
    
673,000
    
$
7.18
      
6.61
    
$
3,492,325
  
                                 
Options exercisable at February 29, 2020
    
493,000
    
$
6.05
      
5.66
    
$
3,117,562
  

(1)
Includes 50,000 shares granted to Mr. Harding on September 27, 2019 and 80,000 total shares granted to employees on September 25, 2019.
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 six months ended February 29, 2020:

   
Number
of Options
    
Weighted Average
Grant Date
Fair Value
  
Non-vested options outstanding at August 31, 2019
    
152,500
    
$
4.03
  
Granted
    
130,000
      
4.19
  
Vested
    
(102,500
)
    
3.75
  
Forfeited
    
—
      
—
  
Non-vested options outstanding at February 29, 2020
    
180,000
    
$
4.31