Fair Value of Financial Instruments

12 Months Ended

Aug. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Note 14. Fair Value of Financial Instruments

Management estimates the fair value of an asset or a liability by using the following three levels of the fair-value hierarchy:

Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. For the Company, Level 1 inputs include price and marketable securities that are actively traded.

Level 2: Inputs other than Level 1 that are observable, either directly or indirectly. At this time, the Company holds no Level 2 financial instruments.

Level 3: Unobservable inputs.

The following table sets forth by level, within the fair value hierarchy, certain assets at estimated fair value as of August 31, 2012 and 2011:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
August 31, 2012
Marketable securities	$	197,000		-		-	$	197,000
August 31, 2011
Marketable securities	$	892,000		-		-	$	892,000