4. LONG-TERM OBLIGATIONS AND OPERATING LEASE (Details 1) - USD ($) |
May. 31, 2015 |
Aug. 31, 2014 |
|---|---|---|
| Long-Term Obligations And Operating Lease Tables | ||
| Mortgage notes payable, mainly bear interest at 5%, 5 year term; one note in amount of $4.45 million had a 20 year term | $ 5,586,200 | |
| Less: current portion | (848,325) | $ (925,980) |
| Total long-term mortgage payable | 4,737,847 | 4,032,227 |
| Future long-term maturities | ||
| 2016 | 578,600 | |
| 2017 | 369,000 | |
| 2018 | 166,200 | |
| 2019 | 157,100 | |
| 2020 | 169,800 | |
| Post 2020 | 3,297,200 | |
| Total | $ 4,737,847 | $ 4,032,227 |