PENSION AND PROFIT-SHARING PLANS

6 Months Ended

Feb. 29, 2024

Retirement Benefits [Abstract]

PENSION AND PROFIT-SHARING PLANS

10. PENSION AND PROFIT-SHARING PLANS

The Company has a deferred compensation 401(k) plan for all employees with at least 6 months of service pending a monthly enrollment time. The plan allows for a non-elective discretionary contribution plus matching employee contributions up to a specific limit. The percentages of contribution remain the discretion of the Board and are reviewed with management annually. For the six-month periods ended February 29, 2024 and February 28, 2023 the 401(k) compensation expense were $238,967 and $276,780, respectively.