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SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended
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Aug. 31, 2021
SHAREHOLDERS' EQUITY [Abstract] |
Variable Assumptions Used in Fair Value Calculations | The assumptions used in the fair value calculations using the Black-Scholes model are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Years Ended August 31, |
​ |  | 2021 |  | 2020 |
Expected term (years) |  | ​ | 7.11 |  | ​ | 6.00 | ​
Risk-free interest rate |  | ​ | 0.68 | % | ​ | 1.71 | %
Expected volatility |  | ​ | 40.01 | % | ​ | 39.32 | %
Expected dividend yield |  | ​ | — | % | ​ | — | %
Weighted average grant-date fair value | ​ | $ | 3.78 | ​ | $ | 4.19 | ​
Stock Option Activity | The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the year ended August 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | ​ |  | Approximate
​ |  | ​ |  | ​ | ​ |  | Weighted Average |  | Aggregate
​ | ​ | Number | ​ | Weighted Average | ​ | Remaining | ​ | Intrinsic Value
​ |  | of Options |  | Exercise Price |  | Contractual Term |  | (in thousands)
Outstanding at August 31, 2019 |  | 555,500 | ​ | $ | 6.33 |  | 6.27 | ​ | $ | 2,528
Granted |  | 130,000 | ​ | $ | 10.41 |  |  | ​ |  |
Exercised |  | (17,500) | ​ | $ | 2.81 |  |  | ​ |  |
Forfeited or expired |  | (6,500) | ​ | $ | 6.08 |  |  | ​ |  |
Outstanding at August 31, 2020 |  | 661,500 | ​ | $ | 7.23 |  | 6.17 | ​ | $ | 1,831
Granted |  | 115,000 | ​ | $ | 9.00 |  |  | ​ |  |
Exercised |  | (24,500) | ​ | $ | 3.66 |  |  | ​ |  |
Net settlement exercised |  | (37,500) | ​ | $ | 3.99 |  |  | ​ |  |
Outstanding at August 31, 2021 |  | 714,500 | ​ | $ | 7.80 |  | 6.06 | ​ | $ | 5,107
​ |  |  | ​ |  |  |  |  | ​ |  |
Options exercisable at August 31, 2021 |  | 496,167 | ​ | $ | 6.96 |  | 4.97 | ​ | $ | 3,966
Non-Vested Options | The following table summarizes the activity and value of non-vested options as of and for the year ended August 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted Average
​ |  | Number |  | Grant Date
​ |  | of Options |  | Fair Value
Non-vested options outstanding at August 31, 2020 |  | 179,999 | ​ | $ | 4.31
Granted |  | 115,000 | ​ | $ | 3.78
Vested |  | (76,666) | ​ | $ | 4.27
Non-vested options outstanding at August 31, 2021 |  | 218,333 | ​ | $ | 4.04

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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