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7. SHAREHOLDERS' EQUITY | 12 Months Ended
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Aug. 31, 2018
Equity [Abstract] |
SHAREHOLDERS' EQUITY | NOTE 7 - SHAREHOLDERS' EQUITY Dividend The Company’s Board of Directors declared cash dividends during fiscal year 2018, 2017 and 2016. The details of dividend paid are in the following tables: FY2016
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  |  | Dividend per Share |  |  | Total Amount |
11/09/2015 |  | 11/16/2015 |  |  | 16,996,001 |  |  | $ | 0.05 |  |  | $ | 849,800 |
1/29/2016 |  | 2/05/2016 |  |  | 17,018,001 |  |  |  | 0.05 |  |  |  | 850,900 |
5/02/2016 |  | 5/09/2016 |  |  | 17,029,501 |  |  |  | 0.05 |  |  |  | 851,475 |
8/11/2016 |  | 8/18/2016 |  |  | 17,221,978 |  |  | $ | 0.05 |  |  |  | 861,099 |
Total |  |  |  |  |  |  |  |  |  |  |  | $ | 3,413,274 |
FY2017
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  |  | Dividend per Share |  |  | Total Amount |
11/10/2016 |  | 11/17/2016 |  |  | 17,226,478 |  |  | $ | 0.05 |  |  | $ | 861,324 |
1/30/2017 |  | 2/06/2017 |  |  | 17,233,758 |  |  |  | 0.05 |  |  |  | 861,688 |
5/08/2017 |  | 5/15/2017 |  |  | 17,240,626 |  |  |  | 0.05 |  |  |  | 862,031 |
7/28/2017 |  | 8/04/2017 |  |  | 17,268,920 |  |  | $ | 0.05 |  |  |  | 863,446 |
Total |  |  |  |  |  |  |  |  |  |  |  | $ | 3,448,489 |
FY2018
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  |  | Dividend per Share |  |  | Total Amount |
11/13/2017 |  | 11/20/2017 |  |  | 17,284,792 |  |  | $ | 0.06 |  |  | $ | 1,037,088 |
1/26/2018 |  | 2/2/2018 |  |  | 17,317,752 |  |  |  | 0.06 |  |  |  | 1,039,065 |
4/25/2018 |  | 5/2/2018 |  |  | 17,354,005 |  |  |  | 0.06 |  |  |  | 1,041,240 |
7/26/2018 |  | 8/2/2018 |  |  | 17,405,775 |  |  | $ | 0.06 |  |  |  | 1,044,347 |
Total |  |  |  |  |  |  |  |  |  |  |  | $ | 4,161,740 |
Although dividend distributions are currently expected to continue on a quarterly basis, the Company’s Board of Directors reserves the right to discontinue the dividend distribution any time. Stock Option Plan In September 1996, the Board of Directors adopted, and the shareholders approved, the 1996 Stock Option Plan (the "Option Plan") under which a total of 1,000,000 shares of common stock had been reserved for issuance. In March 1999, the shareholders approved an increase in the number of shares that may be granted under the Option Plan to 2,000,000. In February 2000, the shareholders approved an increase in the number of shares that may be granted under the Option Plan to 4,000,000. In December 2000, the shareholders approved an increase in the number of shares that may be granted under the Option Plan to 5,000,000. Furthermore, in February 2005, the shareholders approved an additional 1,000,000 shares, resulting in the total number of shares that may be granted under the Option Plan to 6,000,000. The 1996 Stock Option Plan terminated in September 2006 by its term. On February 23, 2007, the Board of Directors adopted, and the shareholders approved, the 2007 Stock Option Plan under which a total of 1,000,000 shares of common stock had been reserved for issuance. On February 25, 2014 the shareholders approved an additional 1,000,000 shares increasing the total number of shares that may be granted under the Option Plan to 2,000,000. This plan terminated in February 2017 by its term. On December 23, 2016 the Board of Directors adopted, and on February 23, 2017 the shareholders approved, the 2017 Equity Incentive Plan under which a total of 1,000,000 shares of common stock has been reserved for issuance. This plan will terminate in December 2026. As of August 31, 2018, employees and directors hold stock options to purchase 1,134,976 shares of common stock at exercise prices ranging from $1.00 to $23.75 per share. The following table summarizes information about stock options:
Transactions in FY16 |  | Number of Options |  |  | Weighted-Average Exercise Price Per Share |  |  | Weighted-Average Remaining Contractual Life |
Outstanding, August 31, 2015 |  |  | 670,350 |  |  | $ | 5.05 |  |  |  | 6.57 |
Granted |  |  | 427,100 |  |  |  | 9.67 |  |  |  |  |
Exercised |  |  | (112,463 | ) |  |  | 1.67 |  |  |  |  |
Canceled/Forfeited |  |  | (27,487 | ) |  |  | 7.66 |  |  |  |  |
Expired |  |  | (10,000 | ) |  |  | 1.13 |  |  |  |  |
Outstanding, August 31, 2016 |  |  | 947,500 |  |  | $ | 7.50 |  |  |  | 7.73 |
Vested and Exercisable, August 31, 2016 |  |  | 279,880 |  |  | $ | 4.96 |  |  |  | 5.40 |
Vested and Expected to Vest, August 31, 2016 |  |  | 862,529 |  |  | $ | 7.37 |  |  |  | 7.61 |
Transactions in FY17 |  | Number of Options |  |  | Weighted-Average Exercise Price Per Share |  |  | Weighted-Average Remaining Contractual Life |
Outstanding, August 31, 2016 |  |  | 947,500 |  |  | $ | 7.50 |  |  |  | 7.73 |
Granted |  |  | 434,916 |  |  |  | 10.18 |  |  |  |  |
Exercised |  |  | (49,642 | ) |  |  | 3.56 |  |  |  |  |
Cancelled/Forfeited |  |  | (83,648 | ) |  |  | 8.68 |  |  |  |  |
Outstanding, August 31, 2017 |  |  | 1,249,126 |  |  | $ | 8.51 |  |  |  | 7.74 |
Exercisable, August 31, 2017 |  |  | 401,485 |  |  | $ | 6.45 |  |  |  | 5.59 |
Vested and Expected to Vest, August 31, 2017 |  |  | 1,144,405 |  |  | $ | 8.41 |  |  |  | 7.63 |
Transactions in FY18 |  | Number of Options |  |  | Weighted-Average Exercise Price Per Share |  |  | Weighted-Average Remaining Contractual Life |
Outstanding, August 31, 2017 |  |  | 1,249,126 |  |  | $ | 8.51 |  |  |  | 7.74 |
Granted |  |  | 52,000 |  |  |  | 22.36 |  |  |  |  |
Exercised |  |  | (130,006 | ) |  |  | 5.97 |  |  |  |  |
Canceled/Forfeited |  |  | (30,144 | ) |  |  | 9.10 |  |  |  |  |
Expired |  |  | (6,000 | ) |  |  | 5.06 |  |  |  |  |
Outstanding, August 31, 2018 |  |  | 1,134,976 |  |  | $ | 9.44 |  |  |  | 7.31 |
Vested and Exercisable, August 31, 2018 |  |  | 483,696 |  |  | $ | 7.79 |  |  |  | 6.48 |
Vested and Expected to Vest, August 31, 2018 |  |  | 1,069,807 |  |  | $ | 9.35 |  |  |  | 7.26 |
Intrinsic Value of options outstanding and options exercisable
|  |  | Intrinsic Value of Options Outstanding |  |  | Intrinsic Value of Options Exercisable |  |  | Intrinsic Value of Options Exercised |
| FY16 |  |  | $ | 1,500,659 |  |  | $ | 1,025,718 |  |  | $ | 853,423 |
| FY17 |  |  | $ | 7,479,068 |  |  | $ | 3,232,356 |  |  | $ | 479,713 |
| FY18 |  |  | $ | 13,064,884 |  |  | $ | 6,315,086 |  |  | $ | 1,495,313 |
The weighted-average remaining contractual life of options outstanding issued under the 2007 and 2017 Plan was 7.31 years at August 31, 2018. The exercise prices for the options outstanding at August 31, 2018 ranged from $1.00 to $23.75 per share, and the information relating to these options is as follows:
Exercise Price |  |  | Awards Outstanding |  |  | Awards Exercisable |
Low |  |  | High |  |  | Quantity |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |  |  | Quantity |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |
$ | 1.00 |  |  | $ | 4.00 |  |  |  | 36,000 |  |  |  | 0.6 years |  |  | $ | 1.00 |  |  |  | 36,000 |  |  |  | .6 years |  |  | $ | 1.00 |
$ | 4.01 |  |  | $ | 8.00 |  |  |  | 286,020 |  |  |  | 6.0 years |  |  | $ | 6.80 |  |  |  | 223,030 |  |  |  | 6.0 years |  |  | $ | 6.78 |
$ | 8.01 |  |  | $ | 12.00 |  |  |  | 748,040 |  |  |  | 8.0 years |  |  | $ | 9.87 |  |  |  | 220,500 |  |  |  | 7.8 years |  |  | $ | 9.80 |
$ | 12.01 |  |  | $ | 16.00 |  |  |  | 12,916 |  |  |  | 9.0 years |  |  | $ | 14.44 |  |  |  | 4,166 |  |  |  | 9.0 years |  |  | $ | 14.46 |
$ | 16.01 |  |  | $ | 20.00 |  |  |  | 12,000 |  |  |  | 4.2 years |  |  | $ | 17.71 |  |  |  | 0 |  |  |  |  |  |  | $ | 0.00 |
$ | 20.01 |  |  | $ | 23.75 |  |  |  | 40,000 |  |  |  | 9.8 years |  |  | $ | 23.75 |  |  |  | 0 |  |  |  |  |  |  | $ | 0.00 |
|  |  |  |  |  |  |  |  | 1,134,976 |  |  |  | 7.31 years |  |  | $ | 9.44 |  |  |  | 483,696 |  |  |  | 6.48 years |  |  | $ | 7.79 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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