Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Details)

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INCOME TAXES (Details) (USD $)
Aug. 31, 2013
Aug. 31, 2012
Deferred tax assets:    
Net operating loss carryforwards $ 6,080,000 $ 5,948,300
Imputed interest on Tap Participation Fee 10,074,200 8,852,500
Deferred revenue 494,600 560,700
Impairment charges    2,408,800
Depreciation and depletion 4,899,800 2,425,700
Other 43,600 45,000
Valuation allowance (21,592,200) (20,241,000)
Net deferred tax asset