Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.19.3.a.u2
SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Nov. 30, 2019
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 three months ended November 30, 2019:

   
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
    
—
    
$
—
                  
Forfeited or expired
    
—
    
$
—
                  
Outstanding at November 30, 2019
    
685,500
    
$
7.10
      
6.99
    
$
3,645,825
  
                                 
Options exercisable at November 30, 2019
    
473,000
    
$
5.73
      
5.82
    
$
3,165,212
  

(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 three months ended November 30, 2019:

   
Number
of Options
    
Weighted Average
Grant Date
Fair Value
  
Non-vested options outstanding at August 31, 2019
    
152,500
    
$
4.03
  
Granted
    
130,000
      
4.60
  
Vested
    
(70,000
)
    
3.68
  
Forfeited
    
—
      
—
  
Non-vested options outstanding at November 30, 2019
    
212,500
    
$
4.20