Related Party Transactions

3 Months Ended

Nov. 30, 2016

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 November 30, 2016 and 2015, the Company incurred approximately $163,000 and $165,000, respectively, of expense related to these leases.