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Note 13 - Fair Value Measurements

9 Months Ended

May 31, 2021

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 marketable equity securities. 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, 2021				Level 1				Level 2				Level 3
Available for sale securities		$	5,125,052			$	5,125,052			$	—			$	—

						Fair Value Measurements Using Inputs Considered as
		Fair value as of August 31, 2020				Level 1				Level 2				Level 3
Available for sale securities		$	5,544,722			$	5,544,722			$	—			$	—

There were no transfers between Level 1, Level 2, or Level 3 during the three and nine months ended May 31, 2021 and 2020.

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- References

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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

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