Note 13 - Fair Value Measurements

3 Months Ended

Nov. 30, 2017

Notes to Financial Statements

Fair Value, Measurement Inputs, Disclosure [Text Block]

13.

       

Fair Value Measurements

Assets and liabilities that are measured at fair value on a recurring basis primarily relate to marketable equity securities. These items are marked-to-market at each reporting period, the market value approximates the cost basis. The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis:

			Fair Value Measurements Using Inputs Considered as
	Fair value as of November 30, 2017		Level 1		Level 2		Level 3
Available for sale securities	$	3,770,241	$	3,770,241	$	—	$	—

			Fair Value Measurements Using Inputs Considered as
	Fair value as of August 31, 2017		Level 1		Level 2		Level 3
Available for sale securities	$	3,766,984	$	3,766,984	$	—	$	—

The available for sale securities are mainly fixed income mutual funds. There were

no

transfers between Level

1,

Level

2,

or Level

3

during the

three

months ended

November 30, 2017

and

2016.