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5. SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Nov. 30, 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
Outstanding at August 31, 2017   465,500   $4.88    6.30   $1,007,740 
Granted (1)   50,000    7.60           
Exercised   —      —             
Forfeited or expired   —      —             
Outstanding at November 30, 2017   515,500   $5.15    6.42   $969,340 
                     
Options exercisable at November 30, 2017   354,668   $4.73    5.16   $794,448 

 

(1) Includes 50,000 shares granted to Mr. Harding on September 27, 2017. 
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, 2017   147,500   $3.64 
Granted   50,000    5.17 
Vested   (36,668)   3.73 
Forfeited   —      —   
Non-vested options outstanding at November 30, 2017   160,832   $4.10