SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Feb. 28, 2013

Shareholders Equity Tables

Schedule of stock option activity

The following table summarizes the stock option activity for the Equity Plan for the six months ended February 28, 2014:

	Number of Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Approximate Aggregate Instrinsic Value
Oustanding at August 31, 2013		347,500	$	5.62
Granted		32,500		6.08
Exercised		—		—
Forfeited or expired		—		—
Outstanding at February 28, 2014		380,000		5.66		6.89	$	506,415
Options exercisable at February 28, 2014		247,500	$	5.67		5.19	$	587,825

Schedule of activity and value of non-vested options

The following table summarizes the activity and value of non-vested options as of and for the six months ended February 28, 2014:

	Number of Options			Weighted-Average Grant Date Fair Value
Non vested options outstanding at beginning of period		132,500		$	3.80
Granted		32,500			4.09
Vested		(32,500	)		2.36
Forfeited		—			—
Options not vested at February 28, 2014		132,500		$	4.22