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7. SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Aug. 31, 2017
Schedule of dividends declared and paid

FY2015

 

Record Date   Distribution Date   Number of Shares Outstanding on
Record Date		   Dividend per
Share		     Total Amount  
11/7/2014   11/14/2014   16,841,114   $ 0.05     $ 842,056  
1/26/2015   2/02/2015   16,852,117   $ 0.05     $ 842,606  
5/11/2015   5/18/2015   16,875,117   $ 0.05     $ 843,754  
7/23/2015   7/30/2015   16,943,001   $ 0.05     $ 847,150  
Total                   $ 3,375,566  

 

FY2016

 

Record Date   Distribution Date   Number of Shares
Outstanding on
Record Date		   Dividend per
Share		     Total Amount  
11/09/2015   11/16/2015   16,996,001   $ 0.05     $ 849,800  
1/29/2016   2/05/2016   17,018,001   $ 0.05     $ 850,900  
5/02/2016   5/09/2016   17,029,501   $ 0.05     $ 851,475  
8/11/2016   8/18/2016   17,221,978   $ 0.05     $ 861,099  
Total                   $ 3,413,274  

 

FY2017

 

Record Date   Distribution Date   Number of Shares
Outstanding on
Record Date		   Dividend per
Share		     Total Amount  
11/10/2016   11/17/2016   17,226,478   $ 0.05     $ 861,324  
1/30/2017   2/06/2017   17,233,758   $ 0.05     $ 861,688  
5/08/2017   5/15/2017   17,240,626   $ 0.05     $ 862,031  
7/28/2017   8/04/2017   17,268,920   $ 0.05     $ 863,446  
Total                   $ 3,448,489  

 
Intrinsic Value of options outstanding and options exercisable
      Intrinsic Value
of Options
Outstanding		     Intrinsic
Value of
Options
Exercisable		     Intrinsic
Value of
Options
Exercised		  
  FY15     $ 1,182,797     $ 1,109,489     $ 396,485  
  FY16     $ 1,500,659     $ 1,025,718     $ 853,423  
  FY17     $ 7,479,068     $ 3,232,356     $ 479,713  
Schedule of options by exercise price range
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   42,000   1.6 years   $ 1.00   42,000   1.6 years   $1.00
$3.01   $ 4.50   14,000   1.0 years   $ 3.22   14,000   1.1 years   $3.22
$4.51   $ 6.00   70,000   1.4 years   $ 5.52   70,000   1.4 years   $5.52
$6.01   $ 7.50   327,510   7.0 years   $ 6.86   194,905   7.0 years   $6.86
$7.51   $ 9.00   10,000   9.0 years   $ 8.62   4,000   9.0 years   $9.72
$9.01   $ 10.50   772,700   9.0 years   $ 9.88   76,580   8.5 years   $0.00
$13.01   $ 14.50   12,916   10.0 years   $14.44   0        
        1,249,126   7.74 years   $8.51   401,485   5.6 years   $6.45
Incentive Stock Options (ISOs) [Member]  
Schedule of stock option activity

 

Transactions in FY15
(ISOs)		  Number of
Options		   Weighted-Average
Exercise Price
Per Share		   Weighted-Average
Remaining
Contractual Life		 
             
Outstanding, August 31, 2014   798,500   $4.59    6.27 
Granted   37,000   $6.99      
Exercised   (95,384)  $2.49      
Canceled/Forfeited   (119,116)  $4.86      
Outstanding, August 31, 2015   621,000   $5.01    6.01 
Vested and Exercisable, August 31, 2015   265,700   $2.81    4.40 
Vested and Expected to Vest, August 31, 2015   576,952   $4.87    6.32 

  

Transactions in FY16
(ISOs)		  Number of
Options		   Weighted-Average
Exercise Price
Per Share		   Weighted-Average
Remaining
Contractual Life		 
             
Outstanding, August 31, 2015   621,000   $5.01    6.01 
Granted   412,100   $9.71      
Exercised   (100,863)  $1.45      
Canceled/Forfeited   (27,487)  $7.66      
Expired   (10,000)  $1.13      
Outstanding, August 31, 2016   894,750   $7.54    7.72 
Vested and Exercisable, August 31, 2016   253,380   $4.85    5.26 
Vested and Expected to Vest, August 31, 2016   812,458   $7.40    7.58 

  

Transactions in FY17

(ISO’s)

  Number of Options   Weighted-Average Exercise Price
Per Share		   Weighted-Average Remaining Contractual Life 
Outstanding, August 31, 2016   894,750   $7.54    7.72 
Granted   409,582   $10.10      
Exercised   (40,142)  $3.01      
Cancelled/Forfeited   (70,148)  $8.92      
Outstanding, August 31, 2017   1,194,042   $8.49    7.70 
Exercisable, August 31, 2017   380,360   $6.45    5.49 
Vested and Expected to Vest, August 31, 2017   1,091,981   $8.38    7.59 

 
Non-Qualified Stock Options (NQSOs) [Member]  
Schedule of stock option activity

 

Transactions in FY15
(NQSOs)		  Number of
Options		   Weighted-Average
Exercise Price
Per Share		   Weighted-Average
Remaining
Contractual Life		 
Outstanding, August 31, 2014   56,600   $4.82    7.96 
Granted   13,750   $6.75      
Exercised   (6,503)  $3.28      
Cancelled/Forfeited   (14,497)  $4.97      
Outstanding, August 31, 2015   49,350   $5.52    7.75 
Exercisable, August 31, 2015   27,200   $4.70    6.31 

 

Transactions in FY16
(NQSOs)		  Number of Options   Weighted-Average Exercise Price
Per Share		   Weighted-Average Remaining Contractual Life 
Outstanding, August 31, 2015   49,350   $5.52    7.75 
Granted   15,000   $8.62      
Exercised   (11,600)  $3.33      
Cancelled/Forfeited   (0)  $–      
Outstanding, August 31, 2016   52,750   $6.88    8.07 
Exercisable, August 31, 2016   26,500   $5.95    6.70 

 

Transactions in FY17

(NQSOs)

  Number of Options   Weighted-Average Exercise Price
Per Share		   Weighted-Average Remaining Contractual Life 
Outstanding, August 31, 2016   52,750   $6.88    8.07 
Granted   25,334   $11.44      
Exercised   (9,500)  $5.88      
Cancelled/Forfeited   (13,500)  $7.43      
Outstanding, August 31, 2017   55,084   $9.02    8.59 
Exercisable, August 31, 2017   21,125   $6.51    7.29