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Note 13 - Fair Value Measurements | 9 Months Ended
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May 31, 2020
Notes to Financial Statements |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 13. Fair Value Measurements Assets and liabilities that are measured at fair value on a recurring basis primarily relate to equity securities in an ultra-short bond fund. These items are marked-to-market at each reporting period, and the Company estimates that market value approximates costs. The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis:
|  |  |  | Fair Value Measurements Using Inputs Considered as
|  | Fair value as of May 31, 2020 |  | Level 1 |  | Level 2 |  | Level 3
Available for sale securities |  | $ | 5,450,693 |  |  | $ | 5,450,693 |  |  | $ | — |  |  | $ | — |
|  |  |  | Fair Value Measurements Using Inputs Considered as
|  | Fair value as of August 31, 2019 |  | Level 1 |  | Level 2 |  | Level 3
Available for sale securities |  | $ | 3,565,258 |  |  | $ | 3,565,258 |  |  | $ | — |  |  | $ | — |
Financial assets that are classified as Level 1 securities include cash equivalents and available for sale securities. These are valued using quoted market prices in an active market. There were no transfers between Level 1, Level 2, or Level 3 during the three and nine months ended May 31, 2020 and 2019.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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