Related Party Transactions

9 Months Ended

May. 31, 2015

Note 5. Related Party Transactions

The Company leases three buildings under operating lease agreements from its majority shareholder, who is also the Company’s Chairman and CEO. During the three months ended May 31, 2015 and 2014, the Company incurred approximately $165,000 and $156,000, respectively, of expense related to these leases.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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