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5. SHAREHOLDERS' EQUITY (Tables)
12 Months Ended
Aug. 31, 2013
Equity [Abstract]  
Details of dividend paid

 

FY2013

Record Date   Distribution Date  

Number of Shares Outstanding on

Record Date

    Dividend per Share     Total Amount  
11/08/2012   11/13/2012     15,927,806     $ 0.05     $ 796,390  
12/24/2012   12/28/2012     16,021,309     $ 0.14 *   $ 2,242,983  
05/07/2013   05/10/2013     16,030,433     $ 0.03 **   $ 480,913  
08/12/2013   08/15/2013     16,030,894     $ 0.03 **   $ 480,926  
Total                       $ 4,001,212  

 

*As a tax benefit to our shareholders considering the increase in federal income tax for capital gains in 2013, the Board of Directors declared an accelerated cash dividend, $0.14 per share, on December 14, 2012, consisting of all of the planned February 2013 distribution of $0.05 per share, plus $0.03 per share of the planned $0.05 per quarter per share for the remaining three fiscal quarters ending in calendar year 2013.

 

** The Board of Directors decided to increase the May and August dividend distribution by 50% from the planned $0.02/share to $0.03/share. Although dividend distributions are currently expected to continue on a quarterly basis, the Board of Directors reserves the right to discontinue the dividend distribution any time to meet the cash priorities of the business.

 

FY2012

Record Date   Distribution Date  

Number of Shares Outstanding on

Record Date

    Dividend per Share     Total Amount  
02/21/2012   03/01/2012     15,813,844     $ 0.05     $ 790,692  
04/27/2012   05/08/2012     15,923.019     $ 0.05     $ 796,151  
08/07/2012   08/10/2012     15,923.019     $ 0.05     $ 796,151  
Total                       $ 2,382,994  

 

Summary of the stock option transactions

Qualified Incentive Stock Options (Qualified ISO)

 

Transactions in FY12
(Incentive Stock Option Plan)
  Number of Options     Weighted-Average Exercise Price
Per Share
    Weighted-Average Remaining Contractual Life  
                         
Outstanding, August 31, 2011     957,636     $ 1.40       5.220  
Granted     100,000     $ 3.25          
Exercised     (360,736 )   $ 1.22          
Expired     (7,100 )   $ 2.54          
                         
Outstanding, August 31, 2012     689,800     $ 1.74       4.523  
Vested and Exercisable, August 31, 2012     467,100     $ 1.42       4.071  
Vested and Expected to Vest, August 31, 2012     666,789     $ 1.71       4.451  

 

Transactions in FY13
(Incentive Stock Option Plan)
  Number of Options     Weighted-Average Exercise Price
Per Share
    Weighted-Average Remaining Contractual Life  
                   
Outstanding, August 31, 2012     689,800     $ 1.74       4.523  
Granted     20,000     $ 5.06          
Exercised     (175,800 )   $ 1.90          
Canceled/Forfeited     (2,000 )   $ 1.00          
                         
Outstanding, August 31, 2013     532,000     $ 1.82       3.953  
Vested and Exercisable, August 31, 2013     392,600     $ 1.45       3.798  
Vested and Expected to Vest, August 31, 2013     519,600     $ 1.79       3.912  

 

Non-Qualified Stock Options (NQSO) 

 

Transactions in FY12   Number of Options     Weighted-Average Exercise Price
Per Share
    Weighted-Average Remaining Contractual Life  
                         
Outstanding, August 31, 2011     79,000     $ 2.29       5.150  
Granted     10,000     $ 4.46          
Exercised     (40,800 )   $ 1.25          
Canceled/Forfeited     (11,600 )   $ 4.10          
                         
Outstanding, August 31, 2012     36,600     $ 3.47       8.139  
Exercisable, August 31, 2012     17,000     $ 3.35       6.975  

 

Transactions in FY13   Number of Options     Weighted-Average Exercise Price
Per Share
    Weighted-Average Remaining Contractual Life  
                         
Outstanding, August 31, 2012     36,600     $ 3.47       8.139  
Granted     12,000     $ 4.78          
                         
Outstanding, August 31, 2013     48,600     $ 3.79       7.845  
Exercisable, August 31, 2013     28,200     $ 3.28       6.671  

 

 

Intrinsic Value of options outstanding and options exercisable
    Intrinsic Value of Options Outstanding     Intrinsic Value of Options Exercisable     Intrinsic Value of Options Exercised  
FY12   $ 1,918,904     $ 1,447,900     $ 982,786  
FY13   $ 1,636,422     $ 1,357,870     $ 402,406  
Exercise prices for the options outstanding
Exercise Price   Awards Outstanding   Awards Exercisable
Low   High   Quantity     Weighted Average Remaining Contractual Life   Weighted Average Exercise Price   Quantity     Weighted Average Remaining Contractual Life   Weighted Average Exercise Price
$1.00   $1.50     353,100     3.9 years   $1.06     319,700     3.8 years   $1.07
$1.51   $3.00     34,600     6.5 years   $2.30     14,600     6.3 years   $2.04
$3.01   $4.50     156,900     4.1 years   $3.26     82,500     4.4 years   $3.18
$4.51   $6.68     36,000     6.0 years   $5.15     4,000     4.0 years   $6.68
          580,600               420,800