11. Pension and Profit-sharing Plans

6 Months Ended

Feb. 28, 2017

Notes

11. Pension and Profit-sharing Plans

11.          PENSION AND PROFIT-SHARING PLANS

The Company has a deferred compensation 401(k) plan for all employees with at least 12 months of service pending a monthly enrolment time.  The plan allows for a non-elective discretionary contribution based on the first $60,000 of eligible compensation. During the quarter ended February 29, 2016, the Company made an additional 10% contribution for all eligible employees as a one-time compensation bonus. For the six month periods ended February 28, 2017 and February 29, 2016, the 401(k) compensation expense was $160,157 and $279,975, respectively.