6. SHAREHOLDERS' EQUITY (Tables)
 9 Months Ended
May 31, 2014
Equity [Abstract]  
Details of dividend paid

The Board of Directors declared cash dividends during fiscal year 2013. The details of dividends paid are in the following table:

 

Record Date   Distribution Date   Number of Shares Outstanding on Record Date     Dividend per Share     Total Amount  
11/8/2012   11/13/2012     15,927,806     $ 0.05     $ 796,390  
12/24/2012   12/28/2012     16,021,309     $ 0.14     $ 2,242,983  
5/7/2013   5/10/2013     16,030,433     $ 0.03     $ 480,913  
8/12/2013   8/15/2013     16,030,894     $ 0.03     $ 480,926  
Total                       $ 4,001,212  

 

The Board of Directors has also declared cash dividends during fiscal year 2014. The details of dividends paid are in the following table:

 

Record Date   Distribution Date   Number of Shares Outstanding on Record Date     Dividend per Share     Total Amount  
11/08/2013   11/15/2013     16,073,894     $ 0.04     $ 642,956  
2/17/2014   2/24/2014     16,149,460     $ 0.05     $ 807,473  
5/09/2014   5/16/2014     16,165,171     $ 0.05     $ 808,259  
Total                       $ 2,258,688  

 
Summary of the stock option transactions

Qualified Incentive Stock Options (Qualified ISO)

As of May 31, 2014, employees hold Qualified ISO to purchase 466,000 shares of common stock at exercise prices ranging from $1.00 to $5.61 which were granted prior to May 31, 2014.

 

Transactions in FY14   Number of Options     Weighted-Average Exercise Price 
Per Share		     Weighted-Average Remaining Contractual Life  
                   
Outstanding, August 31, 2013     532,000     $ 1.82       3.95  
Granted     100,000     $ 5.61          
Exercised     (160,000 )   $ 1.36          
Cancelled/Forfeited     (6,000 )   $ 1.00          
Outstanding, May 31, 2014     466,000     $ 2.80       3.57  
Exercisable,  May 31, 2014     314,000     $ 1.78       3.31  

 

 

Non-Qualified Stock Options (Non-Qualified ISO)

As of May 31, 2014, the outside members of the Board of Directors hold options to purchase 45,600 shares of common stock at exercise prices ranging from $1.67 to $6.68, which were granted prior to May 31, 2014.

 

Transactions in FY14   Number of Options    

Weighted-Average Exercise Price

Per Share

     Weighted-Average Remaining Contractual Life  
                   
Outstanding, August 31, 2013     48,600     $ 3.79       7.85  
Exercised     (3,000 )   $ 1.80          
Outstanding, May 31, 2014     45,600     $ 3.92       7.29  
Exercisable,  May 31, 2014     25,200     $ 3.45       6.12  

  
Exercise prices for the options outstanding
Exercise Price     Awards Outstanding     Awards Exercisable  
Low     High     Quantity     Weighted Average Remaining Contractual Life     Weighted Average Exercise Price     Quantity     Weighted Average Remaining Contractual Life     Weighted Average Exercise Price  
$ 1.00     $ 1.50       212,500       3.54     $ 1.05       212,500       3.54     $ 1.05  
$ 1.51     $ 3.00       21,600       5.86     $ 2.28       11,600       5.83     $ 2.11  
$ 3.01     $ 4.50       141,900       3.38     $ 3.28       103,500       3.24     $ 3.23  
$ 4.51     $ 6.68       136,000       4.70     $ 5.49       12,000       3.27     $ 5.59  
                  511,600       3.90     $ 2.90       339,200       3.52     $ 1.90