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SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended
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Aug. 31, 2022
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended |
​ |  | August 31, 2022 |  | August 31, 2021 |
Expected term (years) |  | ​ | 6.00 |  | ​ | 7.11 | ​
Risk-free interest rate |  | ​ | 1.31 | % | ​ | 0.68 | %
Expected volatility |  | ​ | 38.25 | % | ​ | 40.01 | %
Expected dividend yield |  | ​ | — | % | ​ | — | %
Weighted average grant-date fair value | ​ | $ | 5.16 | ​ | $ | 3.78 | ​
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, 2022:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Approximate Aggregate Intrinsic Value (in thousands)
Outstanding at August 31, 2020 |  | 661,500 | ​ | $ | 7.23 |  | 6.2 | ​ | $ | 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 |  | 6.1 | ​ | $ | 5,107
Granted |  | 105,000 | ​ | $ | 13.37 |  |  | ​ |  |
Exercised |  | (103,667) | ​ | $ | 6.87 |  |  | ​ |  |
Forfeited / Expired | ​ | (3,333) | ​ | $ | 10.45 | ​ | ​ | ​ | ​ | ​
Outstanding at August 31, 2022 |  | 712,500 | ​ | $ | 8.75 |  | 5.7 | ​ | $ | 1,489
​ |  |  | ​ |  |  |  |  | ​ |  |
Options exercisable at August 31, 2022 |  | 479,502 | ​ | $ | 7.56 |  | 4.5 | ​ | $ | 1,373
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-Vested Options | The following table summarizes the activity and value of non-vested options as of and for the year ended August 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of Options |  | Weighted Average Grant Date Fair Value
Non-vested options outstanding at August 31, 2021 |  | 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
Granted |  | 105,000 | ​ | $ | 5.16
Vested |  | (87,002) | ​ | $ | 4.21
Forfeited |  | (3,333) | ​ | $ | 4.21
Non-vested options outstanding at August 31, 2022 |  | 232,998 | ​ | $ | 4.47

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