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NOTE 5: STOCK OPTIONS
 3 Months Ended
Nov. 30, 2021
Equity [Abstract]  
NOTE 5: STOCK OPTIONS

NOTE 5: STOCK OPTIONS

 

Under the 2013 Stock Incentive Plan ("2013 Plan"), options can be granted to officers, directors, consultants and employees of the Company and its subsidiaries to purchase up to 2,500,000 shares of the Company's common stock. Under the 2013 Plan options expire ten years after the date of grant. As of November 30, 2021, there were 192,505 options outstanding under the 2013 Plan, of which 53,875 are vested.

 

Under the 2003 Stock Incentive Plan, as amended ("2003 Plan"), until May 2013, options were available to be granted to officers, directors, consultants and employees of the Company and its subsidiaries to purchase up to 1,500,000 shares of the Company's common stock. As of November 30, 2021, there were 10,000 options outstanding and vested under the 2003 Plan, under which no additional options may be granted.

 

During the three months ended November 30, 2021, 256,750 options were exercised on a net cashless basis, which resulted in 160,934 shares of common stock being issued. During the nine months ended November 30, 2021, 358,584 options were exercised on a net cashless basis, which resulted in 239,563 shares of common stock being issued.