PENSION AND PROFIT-SHARING PLANS

9 Months Ended

May 31, 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 enrolment 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 nine-month periods ended May 31, 2024 and 2023 the 401(k) compensation expense were $311,026 and $404,541, respectively.