Indebtedness (Tables)

12 Months Ended

Aug. 31, 2016

Indebtedness

Schedule of long-term debt

Long‑term debt as of August 31, 2016 and 2015 consist of the following loans with a bank (in thousands):

	August 31,
	2016		2015
First note payable	$	1,105	$	1,207
Second note payable		1,804		1,933
Third note payable		—		767
Total long-term debt		2,909		3,907
Less: Current installments		(314)		(1,068)
Total long-term debt, excluding current installments	$	2,595	$	2,839

Schedule of principal payments for the long-term debt

The scheduled principal payments for the Company’s long‑term debt as of August 31, 2016 consist of the following (in thousands):

	Scheduled
	Principal
Years Ending August 31,	Payments
2017	$	314
2018		319
2019		324
2020		330
2021		335
Thereafter		1,287
Total	$	2,909