Real Estate Properties

9 Months Ended

May 31, 2014

Real Estate [Abstract]

Real Estate Disclosure [Text Block]

Note 6. Real Estate Properties

In March 2014, the Company entered into an agreement to sell the Sylmar Properties. As such, the associated land, buildings and improvements and related liabilities were reclassified as assets held for sale and liabilities held for sale, respectively, on the accompanying consolidated balance sheets as of May 31, 2014 and August 31, 2013. In June 2014, the Company completed the sale of the Sylmar Properties for $9,125,000 in cash and paid the related mortgage off in full.

In October 2013, the Company sold the restaurant property in Orange Park, Florida (the “Orange Park Property”) for $1,138,500 in cash. The transaction closed in October 2013. The sale of this property resulted in a net gain of approximately $535,000.