SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

May 31, 2020

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, 2020:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Approximate Aggregate Intrinsic Value
Outstanding at August 31, 2019		555,500		$	6.33		6.27	$	2,527,590
Granted		130,000		$	10.41
Exercised		(15,000	)	$	2.67
Forfeited or expired		—		$	—
Outstanding at May 31, 2020		670,500		$	7.20		6.37	$	2,066,420
Options exercisable at May 31, 2020		490,500		$	6.07		5.42	$	2,023,755

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, 2020:

	Number of Options			Weighted Average Grant Date Fair Value
Non-vested options outstanding at August 31, 2019		152,500		$	4.03
Granted		130,000			4.19
Vested		(102,500	)		3.75
Forfeited		—			—
Non-vested options outstanding at May 31, 2020		180,000		$	4.31