Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.19.2
SHAREHOLDERS' EQUITY (Tables)
 9 Months Ended
May 31, 2019
SHAREHOLDERS' EQUITY [Abstract]  
Stock Option Activity
The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2019:

   
Number
of Options
    
Weighted Average
Exercise Price
    
Weighted Average
Remaining
Contractual Term
    
Approximate
Aggregate
Intrinsic Value
  
Outstanding at August 31, 2018
    
535,500
    
$
5.31
      
6.04
    
$
3,180,990
  
Granted (1)
    
82,500
    
$
10.48
                  
Exercised
    
(37,500
)
  
$
3.06
                  
Forfeited or expired
    
—
    
$
—
                  
Outstanding at May 31, 2019
    
580,500
    
$
6.19
      
6.50
    
$
1,962,630
  
                                 
Options exercisable at May 31, 2019
    
428,000
    
$
5.30
      
5.65
    
$
1,761,260
  

(1)
Includes 50,000 shares granted to Mr. Harding on September 26, 2018 and 32,500 total shares granted to non-employee directors on January 16, 2019.
Value of Non-vested Options
The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as of and for the nine months ended May 31, 2019:

   
Number
of Options
    
Weighted Average
Grant Date
Fair Value
  
Non-vested options outstanding at August 31, 2018
    
155,833
    
$
3.76
  
Granted
    
82,500
      
4.60
  
Vested
    
(85,834
)
    
3.46
  
Forfeited
    
—
      
—
  
Non-vested options outstanding at May 31, 2019
    
152,499
    
$
4.03