Quarterly report pursuant to Section 13 or 15(d)

5. SHAREHOLDERS' EQUITY (Tables)

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5. SHAREHOLDERS' EQUITY (Tables)
 6 Months Ended
Feb. 28, 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
Oustanding at August 31, 2016     338,000     $ 4.83                  
Granted     142,500       5.47                  
Exercised     —         —                    
Forfeited or expired     —         —                    
Outstanding at February 28, 2017     480,500     $ 4.98       6.59     $ 304,765  
                                 
Options exercisable at February 28, 2017     333,000     $ 4.78       5.24     $ 297,640  
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, 2016     36,000     $ 4.59  
Granted     142,500       3.67  
Vested     (31,000 )     2.95  
Forfeited     —         —    
Non-vested options outstanding at February 28, 2017     147,500     $ 3.52