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Related Party Transactions

12 Months Ended

Aug. 31, 2017

Note 9. Related Party Transactions

The Company leased three buildings, including the Lakeview Property, under operating lease agreements from a trust beneficially owned by the Company’s Chief Executive Officer, Chairman of the Board and majority shareholder, Glen Ceiley. During fiscal 2017 and fiscal 2016, the Company incurred approximately $539,000 and $652,000, respectively, of expense related to these leases.