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SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Nov. 30, 2018
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, 2018:

  
Number
of Options
  
Weighted Average
Exercise Price
  
Weighted Average
Remaining
Contractual Term
  
Approximate
Aggregate
Intrinsic Value
 
Outstanding at August 31, 2018
  
535,500
  
$
5.31
   
6.04
  
$
3,180,990
 
Granted (1)
  
50,000
  
$
11.15
         
Exercised
  
(25,000
)
 
$
3.13
         
Forfeited or expired
  
—
  
$
—
         
Outstanding at November 30, 2018
  
560,500
  
$
5.93
   
6.40
  
$
2,595,100
 
                 
Options exercisable at November 30, 2018
  
408,001
  
$
4.96
   
5.44
  
$
2,261,300
 

(1)
Includes 50,000 shares granted to Mr. Harding on September 26, 2018.
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, 2018:

  
Number
of Options
  
Weighted Average
Grant Date
Fair Value
 
Non-vested options outstanding at August 31, 2018
  
155,833
  
$
3.76
 
Granted
  
50,000
   
5.72
 
Vested
  
(53,334
)
  
3.41
 
Forfeited
  
—
   
—
 
Non-vested options outstanding at November 30, 2018
  
152,499
  
$
4.53