STOCK-BASED COMPENSATION, Shares

1,347

^[1]

1,347

OTHER COMPREHENSIVE INCOME

106

NET LOSS

(7,232)

BALANCE at Aug. 31, 2015

24,828

$ 138

59,184

558

(35,052)

BALANCE, Shares at Aug. 31, 2015

11,563

SHARES ISSUED FOR SERVICES

101

^[1]

101

SHARES ISSUED FOR SERVICES, Shares

ISSUANCE OF COMMON STOCK, NET

10,594

$ 14

10,580

ISSUANCE OF COMMON STOCK, NET, Shares

1,155

EXERCISE OF WARRANTS AND OPTIONS

1,449

$ 4

1,445

EXERCISE OF WARRANTS AND OPTIONS, Shares

350

STOCK-BASED COMPENSATION, Shares

634

$ 1

633

101

OTHER COMPREHENSIVE INCOME

(452)

NET LOSS

(10,964)

BALANCE at Aug. 31, 2016

26,190

$ 157

71,943

106

(46,016)

BALANCE, Shares at Aug. 31, 2016

13,183

SHARES ISSUED FOR SERVICES

^[1]

SHARES ISSUED FOR SERVICES, Shares

ISSUANCE OF COMMON STOCK, NET

^[1]

ISSUANCE OF COMMON STOCK, NET, Shares

EXERCISE OF WARRANTS AND OPTIONS

1,561

$ 4

1,557

EXERCISE OF WARRANTS AND OPTIONS, Shares

313

STOCK-BASED COMPENSATION, Shares

1,575

$ 2

1,573

159

OTHER COMPREHENSIVE INCOME

295

NET LOSS

(10,480)

BALANCE at Aug. 31, 2017

$ 19,238

$ 163

$ 75,170

$ 401

$ (56,496)

BALANCE, Shares at Aug. 31, 2017

13,668

[1]	Represents an amount of less than $1.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (10,480)	$ (10,964)	$ (7,232)
Adjustments required to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	5	4	4
Exchange differences and interest on deposits and held to maturity bonds	124	(163)	(20)
Stock-based compensation	1,575	634	1,347
Shares issued for services	72	101	93
Changes in operating assets and liabilities:
Prepaid expenses, other current assets and related parties	39	(71)	345
Accounts payable, accrued expenses and related parties	1,257	470	16
Deferred revenue	1,520	14,266	500
Liability for employee rights upon retirement	4	3	2
Provision for uncertain tax position		(15)	(1)
Other liabilities	53	390
Total net cash provided by (used in) operating activities	(5,831)	4,655	(4,946)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(7)	(9)	(1)
Purchase of short-term deposits	(3,557)	(7,010)	(3,673)
Purchase of long-term deposits	(17,230)	(22,274)	(17,452)
Purchase of held to maturity securities	(3,869)	(1,775)	(1,885)
Proceeds from sale of short-term deposits	26,551	14,160	19,701
Proceeds from maturity of held to maturity securities	2,417	900
Funds in respect of employee rights upon retirement	(3)	(2)	(2)
Total net cash provided by (used in) investing activities	4,302	(16,010)	(3,312)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, options and warrants - net of issuance costs	25	10,594	9,713
Proceeds from exercise of warrants and options	1,561	1,449	8
Total net cash provided by financing activities	1,586	12,043	9,721
EFFECT OF EXCHANGE RATE CHANGES ON CASH	5	6	(12)
INCREASE IN CASH AND CASH EQUIVALENTS	62	694	1,451
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	3,907	3,213	1,762
CASH AND CASH EQUIVALENTS AT END OF PERIOD	3,969	3,907	3,213
SUPPLEMENTARY DISCLOSURE ON CASH FLOWS -
Interest received	$ 833	$ 256	$ 115

Significant Accounting Policies

12 Months Ended

Aug. 31, 2017

Significant Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES:

General

Incorporation and operations

Oramed Pharmaceuticals Inc. (collectively with its subsidiary, the “Company”, unless the context indicates otherwise) was incorporated on April 12, 2002, under the laws of the State of Nevada. From incorporation until March 3, 2006, the Company was an exploration stage company engaged in the acquisition and exploration of mineral properties. On February 17, 2006, the Company entered into an agreement with Hadasit Medical Services and Development Ltd. (“Hadasit”) to acquire the provisional patent related to orally ingestible insulin capsule to be used for the treatment of individuals with diabetes.

On May 14, 2007, the Company incorporated a wholly-owned subsidiary in Israel, Oramed Ltd. (the “Subsidiary”), which is engaged in research and development.

On March 11, 2011, the Company was reincorporated from the State of Nevada to the State of Delaware.

On November 30, 2015, the Company entered into a Technology License Agreement with Hefei Tianhui Incubation of Technologies Co. Ltd. (“HTIT”) and on December 21, 2015, the parties entered into an Amended and Restated Technology License Agreement, that was further amended by the parties on June 3, 2016 and July 24, 2016 (the “License Agreement”). According to the License Agreement, the Company granted HTIT an exclusive commercialization license in the territory of the People's Republic of China, Macau and Hong Kong (the “Territory”), related to the Company’s oral insulin capsule, ORMD-0801 (the "Product"). Pursuant to the License Agreement, HTIT will conduct, at its own expense, certain pre-commercialization and regulatory activities with respect to the Subsidiary’s technology and ORMD-0801 capsule, and will pay to the Subsidiary (i) royalties of 10% on net sales of the related commercialized products to be sold by HTIT in the Territory (“Royalties”), and (ii) an aggregate of $37,500, of which $3,000 was payable immediately, $8,000 will be paid subject to the Company entering into certain agreements with certain third parties, and $26,500 will be paid upon achievement of certain milestones and conditions. In the event that the Company does not meet certain conditions, the Royalties rate may be reduced to a minimum of 8%. Following the final expiration of the Company's patents covering the technology in the Territory in 2033, the Royalties rate may be reduced, under certain circumstances, to 5%.

The royalty payment obligation shall apply during the period of time beginning upon the first commercial sale of the Product in the Territory, and will end upon the later of (i) the expiration of the last-to-expire licensed patents in the Territory; and (ii) 15 years after the first commercial sale of the Product in the Territory (the "Royalty Term").

The License Agreement shall remain in effect until the expiration of the Royalty Term. The License Agreement contains customary termination provisions.

Among others, the Company's involvement through the product submission date will include consultancy for the pre-commercialization activities in the Territory, as well as advisory services to HTIT on an ongoing basis.

The initial payment of $3,000 was received in January 2016. Following the achievement of certain milestones, the second and third payments of $6,500 and $4,000, respectively, were received in July 2016 and the fourth milestone payment of $4,000 was received in October 2016.

In addition, on November 30, 2015, the Company entered into a Stock Purchase Agreement with HTIT (the “SPA”). According to the SPA, the Company issued 1,155,367 shares of common stock to HTIT for $12,000. The transaction closed on December 28, 2015.

The License Agreement and the SPA were considered a single arrangement with multiple deliverables. The Company allocated the total consideration of $49,500 between the License Agreement and the SPA according to their fair value, as follows: $10,617 was allocated to the issuance of common stock (less issuance expenses of $23), based on the quoted price of the Company's shares on the closing date of the SPA on December 28, 2015, and $38,883 was allocated to the License Agreement. Given the Company's continuing involvement through the expected product submission (June 2023), amounts received relating to the License Agreement are recognized over the period from which the Company is entitled to the respective payment, and the expected product submission date using a time-based model approach over the periods that the fees are earned.

In July 2015, according to the letter of intent signed between the parties or their affiliates, HTIT's affiliate paid the Subsidiary a non-refundable amount of $500 as a no-shop fee. The no-shop fee was deferred and the related revenue is recognized over the estimated term of the License Agreement.

Amounts that were allocated to the License Agreement as of August 31, 2017 aggregated $19,383, all of which were received through the balance sheet date. Through August 31, 2017, the Company recognized revenue in the amount of $3,097, and deferred the remaining amount of $16,286.

The following table summarizes the activities for deferred revenues for the years ended August 31, 2017 and 2016:

	August 31,
	2017			2016

Deferred revenue at the beginning of period	$	14,766		$	-
Amounts received		4,000			15,383
Amounts the Company was entitled to		(24	)		24
Revenue recognized		(2,456	)		(641	)
Deferred revenue at the end of period		16,286			14,766
Less – current deferred revenue portion		(2,449	)		(2,162	)
Non-current deferred revenue portion	$	13,837		$	12,604

Development and liquidity risks

The Company is engaged in research and development in the biotechnology field for innovative pharmaceutical solutions, including an orally ingestible insulin capsule to be used for the treatment of individuals with diabetes, and the use of orally ingestible capsules for delivery of other polypeptides, and has not generated significant revenues from its operations. Continued operation of the Company is contingent upon obtaining sufficient funding until it becomes profitable.

Successful completion of the Company’s development programs and its transition to normal operations is dependent upon obtaining necessary regulatory approvals from the U.S. Food and Drug Administration prior to selling its products within the United States, obtaining foreign regulatory approvals to sell its products internationally, or entering into licensing agreements with third parties. There can be no assurance that the Company will receive regulatory approval of any of its product candidates, and a substantial amount of time may pass before the Company achieves a level of revenues adequate to support its operations, if at all. The Company also expects to incur substantial expenditures in connection with the regulatory approval process for each of its product candidates during their respective developmental periods. Obtaining marketing approval will be directly dependent on the Company’s ability to implement the necessary regulatory steps required to obtain marketing approval in the United States and in other countries. The Company cannot predict the outcome of these activities.

Basis of presentation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Use of estimates in the preparation of financial statements

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements date and the reported expenses during the reporting periods. Actual results could differ from those estimates.

As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to stock-based compensation and to the expected product submission date for revenue recognition purposes.

Functional currency

The currency of the primary economic environment in which the operations of the Company and its Subsidiary are conducted is the U.S. dollar (“$” or “dollar”). Therefore, the functional currency of the Company and its Subsidiary is the dollar.

Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in foreign currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For foreign transactions and other items reflected in the statements of operations, the following exchange rates are used: (1) for transactions - exchange rates at transaction dates or average rates and (2) for other items (derived from non-monetary balance sheet items such as depreciation) - historical exchange rates. The resulting transaction gains or losses are carried to financial income or expenses, as appropriate.

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its Subsidiary. All inter-company transactions and balances have been eliminated in consolidation.

Cash equivalents

The Company considers all short-term, highly liquid investments, which include short-term deposits with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash, to be cash equivalents.

Fair value measurement:

The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows:

Level 1:

Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2:

Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:

Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

As of August 31, 2017, the assets or liabilities measured at fair value are comprised of available for sale equity securities (level 1).

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible.

As of August 31, 2017, the carrying amount of cash and cash equivalents, short-term deposits, other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term maturities of these instruments.

As of August 31, 2017, the carrying amount of long-term deposits approximates their fair values due to the stated interest rates which approximate market rates.

The fair value of held to maturity bonds as presented in note 3 was based on a level 1 measurement.

The amounts funded in respect of employee rights are stated at cash surrender value which approximates its fair value.

There were no Level 3 items for the years ended August 31, 2017, 2016 and 2015.

Marketable securities

1) Available-for-sale securities

Available-for-sale equity securities are reported at fair value, with unrealized gains and losses, net of related tax recorded as a separate component of accumulated other comprehensive income (loss) in equity until realized. Unrealized losses that are considered to be other-than-temporary are charged to statement of operations as an impairment charge and are included in the consolidated statement of operations under impairment of available-for-sale securities. The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost, and the Company’s ability and intent to hold the investment. Realized gains and losses on sales of the securities are included in the consolidated statement of operations as financial income or expenses. Cost of the securities sold and amount reclassified out of accumulated other comprehensive income into financial income are determined by specific identification.

2) Held to maturity securities

All debt securities are classified as held-to-maturity because the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity. On a continuous basis, management assesses whether there are any indicators that the value of the Company’s marketable securities may be impaired, which includes reviewing the underlying cause of any decline in value and the estimated recovery period, as well as the severity and duration of the decline. In the Company’s evaluation, the Company considers its ability and intent to hold these investments for a reasonable period of time sufficient for the Company to recover its cost basis. A marketable security is impaired if the fair value of the security is less than the carrying value of the security and such difference is deemed to be other-than temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the security over the estimated fair value in the security.

Concentration of credit risks

Financial instruments that subject the Company to credit risk consist primarily of cash and cash equivalents, short and long-term deposits and marketable securities which are deposited in major financial institutions. The Company is of the opinion that the credit risk in respect of these balances is remote.

As of the date of issuing these financial statements, all amounts due from HTIT have been received, as described in note 1 above.

Income taxes

1. Deferred taxes

Deferred taxes are determined utilizing the asset and liability method based on the estimated future tax effects of differences between the financial accounting and tax bases of assets and liabilities under the applicable tax laws. Deferred tax balances are computed using the tax rates expected to be in effect when those differences reverse. A valuation allowance in respect of deferred tax assets is provided if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company has provided a full valuation allowance with respect to its deferred tax assets. See note 10.

Regarding the Subsidiary, the recognition is prohibited for deferred tax liabilities or assets that arise from differences between the financial reporting and tax bases of assets and liabilities that are measured from the local currency into dollars using historical exchange rates, and that result from changes in exchange rates or indexing for tax purposes. Consequently, the abovementioned differences were not reflected in the computation of deferred tax assets and liabilities.

Taxes that would apply in the event of disposal of investments in the Subsidiary have not been taken into account in computing deferred taxes, as it is the Company’s intention to hold this investment, not to realize it.

2. Uncertainty in income tax

The Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Such liabilities are classified as long-term, unless the liability is expected to be resolved within twelve months from the balance sheet date. The Company’s policy is to include interest and penalties related to unrecognized tax benefits within income tax expenses.

Revenue recognition

Revenue is recognized when delivery has occurred, evidence of an arrangement exists, title and risks and rewards for the products are transferred to the customer and collection is reasonably assured.

Given the Company's continuing involvement through the expected product submission (June 2023), revenue from the License Agreement is recognized over the periods from which the Company is entitled to the respective payments, and through the expected product submission date.

Cost of revenues

Cost of revenues consists of royalties related to the License Agreement with HTIT. The royalties are recognized when proceeds related to the License Agreement are received.

Research and development, net

Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, employee benefits, the cost of supplies, the cost of services provided by outside contractors, including services related to the Company’s clinical trials, clinical trial expenses and the full cost of manufacturing drug for use in research and preclinical development. All costs associated with research and development are expensed as incurred.

Clinical trial costs are a significant component of research and development expenses and include costs associated with third-party contractors. The Company outsources a substantial portion of its clinical trial activities, utilizing external entities such as Contract Research Organizations, independent clinical investigators, and other third-party service providers to assist the Company with the execution of its clinical studies. For each clinical trial that the Company conducts, clinical trial costs are expensed immediately.

Grants received from the IIA and from the Bio-Jerusalem fund (“Bio-Jerusalem”) are recognized as grant income when the grants become receivable, provided there is reasonable assurance that the Company will comply with the conditions attached to the grant and there is reasonable assurance the grant will be received. The grants are deducted from the related research and development expenses as the costs are incurred and are presented in R&D expenses, net. See also notes 6(j) and 6(k).

Stock-based compensation

Equity awards granted to employees are accounted for using the grant date fair value method. The grant date fair value is determined as follows: for stock options and restricted stock units (“RSUs”) with an exercise price using the Black Scholes pricing model, for stock options with market conditions using a Monte Carlo model and for RSUs with service conditions based on the grant date share price. The fair value of share based payment awards is recognized as an expense over the requisite service period. The expected term is the length of time until the expected dates of exercising the award and is estimated using the simplified method due to insufficient specific historical information of employees' exercise behavior, unless the award includes a market condition, in which case the contractual term is used. The volatility is based on a historical volatility, by statistical analysis of the weekly share price for past periods. The Company elected to recognize compensation cost for awards granted to employees that have a graded vesting schedule using the accelerated method based on the multiple-option award approach. For awards with only market conditions, compensation expense is not reversed if the market conditions are not satisfied.

When stock options are granted as consideration for services provided by consultants and other non-employees, the transaction is accounted for based on the fair value of the consideration received or the fair value of the stock options issued, whichever is more reliably measurable. The fair value of the options granted to consultants and other non-employees is measured on a final basis at the end of the related service period using the Black Scholes pricing model and is recognized over the related service period using the straight-line method.

The Company elects to account for forfeitures as they occur.

Loss per common share

Basic and diluted net loss per common share are computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding for each period. Outstanding stock options, warrants and RSUs have been excluded from the calculation of the diluted loss per share because all such securities are anti-dilutive for all periods presented. The total number of common stock options, warrants and RSUs excluded from the calculation of diluted net loss was 1,827,719, 2,676,573 and 2,249,164 for the years ended August 31, 2017, 2016 and 2015, respectively.

Newly issued and recently adopted Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2014-09 (Topic 606) “Revenue from Contracts with Customers” that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle of this ASU is that an entity will recognize revenue upon the transfer of goods or services to customers in an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective in annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. The Company will implement the guidance for annual period ending on August 31, 2019 (early adoption is permitted for the interim and annual periods beginning on or after December 15, 2016). The Company is currently evaluating the impact of the guidance on its consolidated financial statements.

In January 2016, the FASB issued guidance on recognition and measurement of financial assets and financial liabilities (ASU No. 2016-01) that will supersede most current guidance. Changes to the U.S. GAAP model primarily affect the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities, is largely unchanged. The guidance is effective in annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. The Company will implement the guidance for annual period ending on August 31, 2019 (early adoption is permitted for the interim and annual periods beginning on or after December 15, 2016). The Company is currently evaluating the impact of the guidance on its consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)" (“ASU 2016-02”), which supersedes the existing guidance for lease accounting, "Leases (Topic 840)". ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. The Company is currently evaluating the impact of this new standard on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326)” ("ASU 2016-13"). ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis. The income statement reflects the measurement of credit losses for newly recognized financial assets, as well as the expected credit losses during the period. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the guidance on its consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flow - Classification of Certain Cash Receipts and Cash Payments (Topic 230)” ("ASU 2016-15"), which addresses a few specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this new pronouncement on its consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718) - Scope of Modification Accounting” ("ASU 2017-09"), which gives direction on which changes to the terms or conditions of share-based payment awards require an entity to apply modification accounting in ASC Topic 718. In general, entities will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company does not expect the implementation of this new pronouncement to have a material impact on its consolidated financial statements.

Marketable Securities

12 Months Ended

Aug. 31, 2017

Marketable Securities [Abstract]

MARKETABLE SECURITIES

NOTE 3 - MARKETABLE SECURITIES:

Composition:

The Company's marketable securities include investments in equity securities of D.N.A Biomedical Solutions Ltd (“D.N.A”) and in held to maturity bonds.

Composition:

	August 31,
	2017		2016
Short-term:
D.N.A (see b below)	$	996	$	701
Held to maturity bonds (see c below)		1,864		2,154
	$	2,860	$	2,855
Long-term:
Held to maturity bonds (see c below)	$	2,151	$	530

D.N.A

The D.N.A ordinary shares are traded on the Tel Aviv Stock Exchange. The fair value of those securities is measured at the quoted prices of the securities on the measurement date.

During the years ended August 31, 2017, 2016 and 2015, the Company did not sell any of the D.N.A ordinary shares. As of August 31, 2017, the Company owns approximately 7.9% of D.N.A’s outstanding ordinary shares.

The cost of the securities as of August 31, 2017 and 2016 and 2015 is $595.

Held to maturity bonds

The amortized cost and estimated fair value of held-to-maturity securities at August 31, 2017, are as follows:

	August 31, 2017
	Amortized cost		Gross unrealized losses			Estimated fair value
Short-term:
Commercial bonds	$	1,823	$	(1	)	$	1,822
Accrued interest		41		-			41

Long-term		2,151		-			2,151
	$	4,015	$	(1	)	$	4,014

As of August 31, 2017, the contractual maturities of debt securities classified as held-to-maturity are as follows: after one year through two years, $2,151 and the yield to maturity rates vary between 1.30% to 1.87%.

The amortized cost and estimated fair value of held-to-maturity securities at August 31, 2016, are as follows:

	August 31, 2016
	Amortized cost		Gross unrealized gains		Estimated fair value
Short-term:
Commercial bonds	$	2,118	$	-	$	2,118
Accrued interest		36		-		36

Long-term		530		1		531
	$	2,684	$	1	$	2,685

As of August 31, 2016, the contractual maturities of debt securities classified as held-to-maturity are as follows: after one year through two years, $530, and the yield to maturity rates vary between 0.96% to 1.8%.

Commitments

12 Months Ended

Aug. 31, 2017

Commitments [Abstract]

COMMITMENTS

NOTE 6 - COMMITMENTS:

In March 2011, the Subsidiary sold shares of its investee company, Entera Bio Ltd. (“Entera”) to D.N.A, retaining a 3% interest as of March 2011, which is accounted for as a cost method investment (amounting to $1). In consideration for the shares sold to D.N.A, the Company received, among other payments, 4,202,334 ordinary shares of D.N.A (see also note 3).

As part of this agreement, the Subsidiary entered into a patent transfer agreement, according to which the Subsidiary assigned to Entera all of its right, title and interest in and to the patent application that it has licensed to Entera since August 2010. Under this agreement, the Subsidiary is entitled to receive from Entera royalties of 3% of Entera’s net revenues (as defined in the agreement) and a license back of that patent application for use in respect of diabetes and influenza. As of August 31, 2017, Entera had not yet realized any revenues and had not paid any royalties to the Subsidiary.

In addition, as part of a consulting agreement with a third party, dated February 15, 2011, the Subsidiary is obliged to pay this third party royalties of 8% of the net royalties received in respect of the patent that was sold to Entera in March 2011.

On January 3, 2017, the Subsidiary entered into a lease agreement for its office facilities in Israel. The lease agreement is for a period of 60 months commencing October 1, 2016.

The annual lease payment will be New Israeli Shekel (“NIS”) 119,000 ($33) from October 2016 through September 2018 and NIS 132,000 ($37) from October 2018 through September 2021, and will be linked to the increase in the Israeli consumer price index (“CPI”) (as of August 31, 2017, the future lease payments until the expiration of the lease agreement will be $143, based on the exchange rate as of August 31, 2017).

As security for its obligation under this lease agreement, the Company provided a bank guarantee in an amount equal to three monthly lease payments.

The lease expenses for the years ended August 31, 2017, 2016 and 2015 were $32, $23 and $23, respectively.

On March 3, 2016, the Subsidiary entered into an agreement with a vendor for process development and production of its capsules and on November 24, 2016, April 3, 2017 and July 10, 2017 into amendments to such agreement in an amount of up to Swiss Franc (“CHF”) 1,000,000 ($1,027), CHF 605,000 ($615) of which was recognized through August 31, 2017.

On May 11, 2016, the Subsidiary entered into a Master Service Agreement with a vendor to retain its services for a pre-clinical toxicology trial for an oral GLP-1 analog capsule for type 2 diabetes patients. As consideration for its services, the Subsidiary will pay the vendor a total amount of $1,283 during the term of the engagement and based on achievement of certain milestones, of which $1,163 was recognized through August 31, 2017.

On June 13, 2016, the Subsidiary entered into a four-year service agreement with a third party and on December 19, 2016, this agreement and all of the third party rights and obligations thereunder were assigned to another third party. This agreement is required by the License Agreement as described in note 1 and will support the Company's research and development. The Subsidiary is obligated to pay the third party a total amount of up to €2,360,000 ($2,726), of which €800,000 ($878) is a non-refundable fee to be paid within 12 months from the effective date, all of which was recognized in research and development through August 31, 2017. The remaining fee will be paid over the term of the engagement and will be based on achievement of certain milestones.

On March 3, 2014, the Subsidiary entered into a Master Service Agreement with a vendor for the process development and production of one of its oral capsule ingredients in the amount of $311, $175 of which was recognized through August 31, 2017, and bonus payments of up to $600 that will be paid upon achieving certain milestones, as described in the agreement, none of which was recognized through August 31, 2017.

On July 24, 2016, the Subsidiary entered into a General Technical Agreement with the same vendor, for the scale-up process development and production of the same capsule ingredients in the amount of $4,300 that will be paid over the term of the engagement and based on the achievement of certain development milestones, $3,327 of which were recognized in research and development through August 31, 2017. This agreement is part of the requirements of the License Agreement as described in note 1.

On February 21, 2017, the Subsidiary entered into an agreement with a vendor to retain its services for a pre-clinical toxicology trial for an oral insulin capsule for type 2 and type 1 diabetes patients. As consideration for its services, the Subsidiary will pay the vendor a total of up to $952 during the term of the engagement and based on achievement of certain milestones, of which $594 was recognized through August 31, 2017.

On May 3, 2017, the Company entered into a consulting agreement with a third party advisor for a period of one year, pursuant to which such advisor will provide investor relations services and will be entitled to receive a monthly cash fee and 10,000 shares of the Company’s common stock that will be issued in four equal quarterly installments commencing August 1, 2017. As of August 31, 2017, the Company had issued to such advisor 2,500 shares. The fair value of the shares at the grant date was $20.

On June 5, 2017, the Subsidiary entered into a clinical research agreement with a vendor, for the conduct of its clamp clinical trial for an oral insulin capsule for type 1 diabetes patients. As consideration for its services, the Subsidiary will pay the vendor a total amount of $958 during the term of the engagement and based on achievement of certain milestones, $160 of which was recognized through August 31, 2017.

Grants from the Bio-Jerusalem Fund (“Bio-Jerusalem”)

The Subsidiary is committed to pay royalties to Bio-Jerusalem on proceeds from future sales at a rate of 4% and up to 100% of the amount of the grant received (Israeli CPI linked) at the total amount of $65. The Company received no grants from Bio-Jerusalem since fiscal year 2013.

Royalty expenses for the year ended August 31, 2017 of $47 are included in cost of revenues. As of August 31, 2017, the Subsidiary had realized revenues from its related project in the amount of $2,653.

Grants from the IIA

Under the terms of the Company’s funding from the IIA, royalties of 3.5% are payable on sales of products developed from a project so funded, up to a maximum amount equaling 100%-150% of the grants received (dollar linked) with the addition of interest at an annual rate based on LIBOR.

At the time the grants were received, successful development of the related projects was not assured.

The total amount that was received through August 31, 2017 was $2,194.

Royalty expenses for the year ended August 31, 2017 of $140 are included in cost of revenues and will be paid over the term of the License Agreement in accordance with the revenue recognized from the related project. As of August 31, 2017, the Subsidiary had realized revenues from its project in the amount of $2,653.

For the years ended August 31, 2017 and 2016, no grants from the IIA were recognized. For the year ended August 31, 2015, the research and development expenses are presented net of IIA grants in the total amount of $49.

Stockholders' Equity

12 Months Ended

Aug. 31, 2017

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 7 - STOCKHOLDERS’ EQUITY:

The following are the significant capital stock transactions that took place during the years ended August 31, 2017, 2016 and 2015:

On November 3, 2014, the Company entered into a Stock Purchase Agreement with Guangxi Wuzhou Pharmaceutical (Group) Co., Ltd., pursuant to which the Company issued to such investor an aggregate of 696,378 shares of common stock, at a price of $7.18 per share, which was equal to the closing price of the Company’s common stock on the Nasdaq Capital Market on October 31, 2014, for aggregate gross proceeds of approximately $5,000. The net proceeds to the Company from the offering were approximately $4,833, after deducting a finder's fee of $150 and other offering expenses of the Company. The offering closed on November 28, 2014.

On April 2, 2015, the Company entered into an At The Market Issuance Sales Agreement and on April 5, 2017 into an amendment to such agreement (as amended, the “Sales Agreement”) with FBR Capital Markets & Co. (“FBR”) pursuant to which the Company may, from time to time and at its option, issue and sell shares of its common stock having an aggregate offering price of up to $25,000 through FBR as its sales agent, subject to certain terms and conditions. Any shares sold will be sold pursuant to the Company’s effective shelf registration statement on Form S-3 including a prospectus dated February 2, 2017, as supplemented by a prospectus supplement dated April 5, 2017. The Company will pay FBR a commission of 3.0% of the gross proceeds of the sale of any shares sold through FBR. As of August 31, 2017, 2,970 shares were sold under the Sales Agreement and an additional 453,919 shares were subsequently sold during September and October 2017.

On June 4, 2015, the Company entered into a letter of agreement (the “Engagement Letter”) with H.C. Wainwright & Co., LLC (“HCW”), pursuant to which HCW agreed to serve as exclusive agent, advisor or underwriter in any offering of the Company occurring between June 4, 2015 and July 4, 2015. On June 5, 2015, the Company entered into a Securities Purchase Agreement, pursuant to which the Company agreed to sell, in a registered direct offering (the “June 2015 Offering”): (1) an aggregate of 714,286 shares (the “Shares”) of the Company’s common stock at a price of $7.50 per Share to six investors (the “Purchasers”) and (2) at the option of each Purchaser (the “Overallotment Right”), additional shares of the Company’s common stock (the “Overallotment Shares”) up to the number equal to the number of the Shares purchased by such Purchaser and at a price of $10.00 per Overallotment Share. The closing of the sale of the Shares occurred on June 10, 2015. The Overallotment Right shall be exercisable beginning December 10, 2015, and shall remain exercisable until December 10, 2016. Pursuant to the Engagement Letter, HCW received, for its services in the June 2015 Offering, a fee equal to 7% of the gross proceeds raised in the June 2015 Offering and an expense allowance of 1% of the gross proceeds raised in the June 2015 Offering, and affiliates of HCW received warrants to purchase 28,571 shares of common stock of the Company, exercisable immediately and expires after a period of three years and with an exercise price of $10.00 per share. The net proceeds to the Company from the June 2015 Offering were approximately $4,880, after deducting HCW’s expenses and other offering expenses of the Company totaling $478.

On December 28, 2015, the Company completed a private placement of 1,155,367 shares of the Company's common stock to HTIT. See also note 1.

As of August 31, 2017, the Company had outstanding warrants exercisable for 166,642 shares of common stock at exercise prices ranging from $3.7656 to $10.00 per share and expiring at various dates between November 2, 2017 and June 10, 2018.

The following table presents the warrant activity for the years ended August 31, 2017, 2016 and 2015:

	2017					2016					2015
	Warrants			Weighted- Average Exercise Price		Warrants			Weighted- Average Exercise Price		Warrants		Weighted- Average Exercise Price
Warrants outstanding as of September 1		615,338		$	5.92		981,940		$	5.29		953,369	$	5.15
Issued		-		$	-		-		$	-		28,571	$	10.00
Exercised		(248,882	)	$	4.99		(331,054	)	$	4.04		-	$	-
Expired		(199,814	)	$	6.82		(35,548	)	$	6.00		-	$	-
Warrants outstanding as of August 31		166,642		$	6.46		615,338		$	5.92		981,940	$	5.29
Warrants exercisable as of August 31		166,642		$	6.46		615,338		$	5.92		981,496	$	5.29

Stock-Based Compensation

12 Months Ended

Aug. 31, 2017

Stock-Based Compensation [Abstract]

RELATED PARTIES - TRANSACTIONS

NOTE 8 - STOCK-BASED COMPENSATION:

As of August 31, 2017, the Company has one stock option plan, the Second Amended and Restated 2008 Stock Incentive Plan, under which, the Company had reserved a pool of 2,400,000 shares of the Company’s common stock which may be issued at the discretion of the Company’s Board of Directors from time to time. Under this Plan, each option is exercisable into one share of common stock of the Company. The options may be exercised after vesting and in accordance with vesting schedules which will be determined by the Board of Directors for each grant. The maximum term of the options is 10 years.

The following are the significant stock options transactions with employees, board members and non-employees made during the years ended August 31, 2017, 2016 and 2015:

On November 13, 2014, the Company granted a total of 19,576 RSUs representing a right to receive shares of the Company’s common stock to the Company’s Chief Executive Officer (the "CEO"), and the Company’s Chief Scientific Officer (the "CSO"), both related parties. The RSUs vested in two equal installments, each of 9,788 shares, on November 30, 2014 and December 31, 2014. The total fair value of these RSUs on the date of grant was $135, using the quoted closing market share price of $6.90 on the Nasdaq on the date of grant. The shares of common stock underlying the RSUs will be issued upon request of the grantee. As of August 31, 2017, 9,788 RSUs were vested and outstanding and the remaining 9,788 were exercised.

On November 13, 2014, the Company granted a total of 10,872 RSUs representing a right to receive shares of the Company’s common stock to four members of the Company's Board of Directors. The RSUs vested on January 1, 2015. The total fair value of these RSUs on the date of grant was $75, using the quoted closing market share price of $6.90 on the Nasdaq Capital Market on the date of grant.

On February 23, 2015, the Company granted a total of 159,696 RSUs representing a right to receive shares of the Company’s common stock to the Company’s CEO and the CSO, both related parties. The RSUs vest in 23 installments consisting of one installment of 13,308 shares on February 28, 2015 and 22 equal monthly installments of 6,654 shares each, commencing March 31, 2015. The total fair value of these RSUs on the date of grant was $728, using the quoted closing market share price of $4.56 on the Nasdaq Capital Market on the date of grant. The shares of common stock underlying the RSUs will be issued upon request of the grantee. As of August 31, 2017, 79,848 RSUs were vested and outstanding and the remaining 79,848 were exercised.

On February 23, 2015, the Company granted a total of 88,712 RSUs representing a right to receive shares of the Company’s common stock to four members of the Company's Board of Directors (22,178 RSUs to each director). The RSUs vested in two equal installments of 44,356 shares on each of December 31, 2015 and December 31, 2016. The total fair value of these RSUs on the date of grant was $405, using the quoted closing market share price of $4.56 on the Nasdaq Capital Market on the date of grant.

On August 24, 2016 the Company determined, with respect to three of these members of the Company's Board of Directors, to accelerate the second installment of their RSUs, such that 22,179 RSUs were vested on August 29, 2016 and their remaining 11,088 RSUs were forfeited.

On February 23, 2015, the Company granted a total of 63,216 RSUs to three employees of the Subsidiary. The RSUs vest in 23 installments, consisting of one installment of 5,268 shares on February 28, 2015 and 22 equal monthly installments of 2,634 shares each, commencing March 31, 2015. The total fair value of these RSUs on the date of grant was $288, using the quoted closing market share price of $4.56 on the Nasdaq Capital Market on the date of grant.

On November 19, 2015, options to purchase an aggregate of 22,000 of the Company’s shares of common stock were granted to two consultants at an exercise price of $7.36 per share (equivalent to the traded market price on the date of grant) and expiration date of November 19, 2025. 10,000 of the options vested in one installment on December 1, 2015, and the remaining 12,000 options vest in twelve equal quarterly installments, commencing January 1, 2016.

On August 3, 2016 the consulting agreement with one of these consultants, to whom 12,000 options were granted, was terminated. As a result, only 3,000 options were vested, and the remaining 9,000 unvested options were forfeited. In addition, the expiration date of the 3,000 vested options was updated to November 3, 2016 (3 months following the termination date of the agreement).

On November 1, 2016, the Company granted a total of 70,000 RSUs representing a right to receive 70,000 shares of the Company’s common stock to an employee of the Subsidiary. The RSUs vest in 19 installments, consisting of one installment of 9,000 shares on November 1, 2016, 18 equal monthly installments of 1,500 shares each, commencing November 30, 2016 and 17,000 shares on each of April 30, 2017 and 2018. The total fair value of these RSUs on the date of grant was $463, using the quoted closing market share price of $6.62 on the Nasdaq Capital Market on the date of grant.

On February 9, 2017, options to purchase an aggregate of 27,731 shares of the Company were granted to four members of the Company’s Board of Directors as follows: (a) 16,337 options at an exercise price of $1 per share (lower than the traded market price of $6.23 on the date of grant). The fair value of these options on the date of grant was $90, using the Black Scholes option-pricing model and was based on the following assumptions: Stock price of $6.23; dividend yield of 0% for all years; expected volatility of 77.29%; risk-free interest rates of 1.88%; and expected term of 5 years; (b) 11,394 options at an exercise price of $6.23 per share (equivalent to the traded market price on the date of grant). The fair value of these options on the date of grant was $45, using the Black Scholes option-pricing model and was based on the following assumptions: Stock price of $6.23; dividend yield of 0% for all years; expected volatility of 77.29%; risk-free interest rates of 1.88%; and expected term of 5 years. All the options vested immediately and expire on February 9, 2027.

On March 20, 2017, options to purchase an aggregate of 37,152 of the Company’s shares of common stock were granted to a consultant at an exercise price of $6.00 per share (higher than the traded market price of $5.96 on the date of grant). The options expire on March 20, 2027. The options vest in 24 consecutive equal installments of 1,548 shares of common stock each, commencing March 31, 2017. The fair value of these options on the date of grant was $177. The fair value of these options as of August 31, 2017 was $261, using the Black Scholes option-pricing model and was based on the following assumptions: dividend yield of 0% for all years; expected volatility of 73.62%; risk-free interest rates of 2.12%; and expected term of 9.6 years.

On June 30, 2017, the Company granted options to purchase shares of the Company and RSUs as follows:

(1)

To the CEO, options to purchase an aggregate of 147,000 shares of the Company, at an exercise price of $7.77 per share (equivalent to the traded market price on the date of grant). The options shall vest in three equal annual installments of 49,000, on each of December 31, 2017, 2018 and 2019, subject to the Company share price reaching the target of $8.00 per share, $9.50 per share and $12.50 per share, respectively. These options expire on June 30, 2027. The fair value of the options at the date of grant was $585 using the Monte Carlo model, which utilizes multiple input variables to estimate the probability that market conditions will be achieved, and was based on the following assumptions: dividend yield of 0% for all years; expected volatility of 75.00%; risk-free interest rates of 2.34%; and expected term of 10 years.

(2)

To the CSO: (a) 75,000 RSUs representing a right to receive shares of the Company’s common stock which vested immediately, have an exercise price of $0.012 per share of common stock and expire on June 30, 2027. The total fair value of these RSUs on the date of grant was $582, using the quoted closing market share price of $7.77 on the Nasdaq Capital Market on the date of grant; The shares of common stock underlying the RSUs will be issued upon request of the grantee. As of August 31, 2017, none of these RSUs were exercised. (b) options to purchase an aggregate of 69,999 shares of the Company, at an exercise price of $7.77 per share (equivalent to the traded market price on the date of grant). The options shall vest in three equal annual installments of 23,333, on each of December 31, 2017, 2018 and 2019. These options expire on June 30, 2027. The fair value of all these options on the date of grant was $359, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $7.77; dividend yield of 0% for all years; expected volatility of 74.77%; risk-free interest rates of 1.89%; and expected term of 6 years.

(3)

To four members of the Company’s Board of Directors, options to purchase an aggregate of 67,092 shares of the Company (16,773 options to each director), at an exercise price of $7.77 per share (equivalent to the traded market price on the date of grant). The options shall vest in three equal annual installments, on each of December 31, 2017, 2018 and 2019. These options expire on June 30, 2027. The fair value of all these options on the date of grant was $344, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $7.77; dividend yield of 0% for all years; expected volatility of 74.77%; risk-free interest rates of 1.89%; and expected term of 6 years.

(4)

To a member of the Company’s Board of Directors, options to purchase an aggregate of 56,773 shares of the Company at an exercise price of $7.77 per share (equivalent to the traded market price on the date of grant). The options shall vest in four annual installments, 15,591 of which shall vest on each of December 31, 2017, 2018 and 2019, and 10,000 of which shall vest on December 31, 2020. These options expire on June 30, 2027. The fair value of all these options on the date of grant was $294, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $7.77; dividend yield of 0% for all years; expected volatility of 74.15%; risk-free interest rates of 2.14%; and expected term of 6.18 years.

(5)

To employees of the Subsidiary, options to purchase an aggregate of 38,901 shares of the Company, at an exercise price of $7.77 per share (equivalent to the traded market price on the date of grant). The options shall vest in three equal annual installments, on each of December 31, 2017, 2018 and 2019. These options expire on June 30, 2027. The fair value of all these options on the date of grant was $200, using the Black Scholes option-pricing model and was based on the following assumptions: stock price of $7.77; dividend yield of 0% for all years; expected volatility of 74.77%; risk-free interest rates of 1.89%; and expected term of 6 years.

On July 19, 2017, options to purchase an aggregate of 20,001 shares of the Company were granted to an employee of the Subsidiary. The fair value of all these options on the date of grant was $113, using the Black Scholes option-pricing model and was based on the following assumptions: Stock price of $8.57; dividend yield of 0% for all years; expected volatility of 74.65%; risk-free interest rates of 1.83%; and expected term of 6 years.

Options to employees, directors and non-employees

The fair value of each option grant is estimated on the date of grant using the Black Scholes option-pricing model or Monte Carlo model with the following assumptions:

	For options granted in the year ended August 31,
	2017		2016
Expected option life (years)		5.00-10.00		10.00
Expected stock price volatility (%)		74.15-77.29		80.46
Risk free interest rate (%)		1.83-2.47		2.24
Expected dividend yield (%)		0.0		0.0

No options were granted in fiscal year 2015.

A summary of the status of the stock options granted to employees and directors as of August 31, 2017, 2016 and 2015, and changes during the years ended on those dates, is presented below:

	Year ended August 31,
	2017					2016				2015
	Number of options			Weighted average exercise price		Number of options		Weighted average exercise price		Number of options			Weighted average exercise price
				$				$					$
Options outstanding at beginning of year		904,234			6.75		904,234		6.75		908,901			6.75
Changes during the year:
Granted		427,497			7.51		-		-		-			-
Forfeited		-			-		-		-		(3,297	)		6.00
Expired		(59,282	)		10.27
Exercised		63,900			5		-		-		(1,370	)		6.00
Options outstanding at end of year		1,208,549			6.94		904,234		6.75		904,234			6.75
Options exercisable at end of year		808,783					904,234				883,234
Weighted average fair value of options granted during the year	$	4.75				$	-			$	-

Costs incurred in respect of stock options granted to employees and directors, for the years ended August 31, 2017, 2016 and 2015 were $451, $14 and $278, respectively.

The total intrinsic value of employees' options exercised during the year ended August 31, 2017 was $85. None of the options were exercised by employees during the year ended August 31, 2016. The options exercised during the year ended August 31, 2015, were at a price equal to the market price at the exercise date.

The following table presents summary information concerning the options granted to employees and directors outstanding as of August 31, 2017:

Range of exercise prices	Number outstanding		Weighted Average Remaining Contractual Life		Weighted average exercise price		Aggregate intrinsic value
$			Years		$		$
1.00 to 6.00		442,671		3.92		4.74		1,730,803
6.48 to 7.88		635,959		7.09		7.47		751,863
8.57 to 12.45		129,919		7.12		11.85		1,600
		1,208,549		5.93		6.94		2,484,266

808,783 of options granted to employees and directors that were outstanding as of August 31, 2017, were also exercisable as of August 31, 2017.

As of August 31, 2017, there were $1,579 of unrecognized compensation costs related to non-vested options previously granted to employees and directors. The unrecognized compensation costs are expected to be recognized over a weighted average period of 2.5 years.

A summary of the status of the stock options granted to non-employees outstanding as of August 31, 2017, 2016 and 2015, and changes during the years ended on this date, is presented below:

	Year ended August 31,
	2017					2016					2015
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
				$					$					$
Options outstanding at beginning of year		29,668			8.35		40,286			7.29		62,221			7.13
Changes during the year:
Granted		37,152			6.00		22,000			7.36
Exercised		-			-		(18,718	)		6.00		-			-
Forfeited		-			-		(9,000	)		7.36
Expired		(11,334	)		8.65		(4,900	)		6.00		(21,935	)		6.82
Options outstanding at end of year		55,486			6.71		29,668			8.35		40,286			7.29
Options exercisable at end of year		27,622					29,668					36,119

The Company recorded stock-based compensation of $59, $102 and $3 during the years ended August 31, 2017, 2016 and 2015, respectively, related to non-employees' awards.

The total intrinsic value of non-employees' options exercised during the year ended August 31, 2016, was $37. None of the options were exercised by non-employees during the years ended August 31, 2017 and 2015.

The following table presents summary information concerning the options granted to non-employees outstanding as of August 31, 2017:

Range of exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Aggregate intrinsic value
$				Years		$		$
	6.00		37,152		9.56		6.00		98,453
	7.36		10,000		8.22		7.36		12,900
	9.12		8,334		1.36		9.12		-
			55,486		8.09		6.71		111,353

27,622 options granted to non-employees and directors that were outstanding as of August 31, 2017, were also exercisable as of August 31, 2017.

As of August 31, 2017, there were $196 of unrecognized compensation costs related to non-vested non-employee options. The unrecognized compensation costs are expected to be recognized over a weighted average period of 1.5 years.

Restricted stock units

The following table summarizes the activities for unvested RSUs granted to employees and directors for the years ended August 31, 2017, 2016 and 2015:

	Year ended August 31,
	2017			2016			2015
	Number of RSUs
Unvested at the beginning of period		201,669			313,216			-
Granted		178,120			1,000			346,704
Vested and issued		(159,353	)		(101,459	)		(33,488	)
Forfeited		(22,160	)		(11,088	)		-
Outstanding at the end of the period		198,276			201, 669			313,216
Vested and unissued (see notes 8a, 8c and 8j(2))		164,636			152,656			72,808

The Company recorded compensation costs related to RSUs of $1,064, $518 and $1,066, during the years ended August 31, 2017, 2016 and 2015, respectively, related to RSU awards.

As of August 31, 2017, there were $88 unrecognized compensation costs related to RSUs, to be recorded over the next 12 months.

Taxes on Income

12 Months Ended

Aug. 31, 2017

Taxes on Income [Abstract]

TAXES ON INCOME

NOTE 10 - TAXES ON INCOME:

Taxes on income included in the consolidated statements of operations represent current taxes due to taxable income of the Company and its Subsidiary.

Corporate taxation in the U.S.

The applicable corporate tax rate for the Company is 35%.

As of August 31, 2017, the Company has an accumulated tax loss carryforward of approximately $10,060 (as of August 31, 2016, approximately $8,945). Under U.S. tax laws, subject to certain limitations, carryforward tax losses expire 20 years after the year in which incurred. In the case of the Company, subject to potential limitations in accordance with the relevant law, the net loss carryforward will expire in the years 2025 through 2037.

Corporate taxation in Israel:

The Subsidiary is taxed in accordance with Israeli tax laws. The corporate tax rates applicable to 2017, 2016 and 2015 are 24%, 25% and 26.5%, respectively.

As of August 31, 2017, the Subsidiary has an accumulated tax loss carryforward of approximately $26,881 (as of August 31, 2016, approximately $18,580). Under the Israeli tax laws, carryforward tax losses have no expiration date.

Deferred income taxes:

	August 31,
	2017			2016			2015
In respect of:

Net operating loss carryforward	$	9,253		$	9,219		$	5,750
Research and development expenses		2,046			-			906
Less - valuation allowance		(11,299	)		(9,219	)		(6,656	)
Net deferred tax assets	$	-		$	-		$	-

Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a full valuation allowance.

Loss before taxes on income and income taxes included in the income statements of operations:


	Year ended August 31,
	2017		2016			2015
Loss before taxes on income:
U.S.	$	1,115	$	959		$	1,226
Outside U.S.		8,965		8,670			6,007
	$	10,080	$	9,629		$	7,233
Taxes on income (tax benefit):
Current:
U.S.		-		(15	)		-
Outside U.S.		400		1,350			(1	)
	$	400	$	1,335		$	(1	)

Taxes on income of $400 is derived from withholding tax deducted from HTIT milestones payments, which were received during the year ended August 31, 2017, according to the License Agreement. As of August 31, 2017, the Company did not expect to reach taxable income in the 5 years following the balance sheet date, and therefore recognized this amount as taxes on income.

Reconciliation of the statutory tax benefit to effective tax expense

Following is a reconciliation of the theoretical tax expense, assuming all income is taxed at the regular tax rates applicable to companies in the United States, and the actual tax expense:

	Year ended August 31,
	2017			2016			2015
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$	(10,080	)	$	(9,629	)	$	(7,233	)
Statutory tax benefit		(3,528	)		(3,370	)		(2,531	)
Increase (decrease) in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax		2,080			2,563			1,599
Disallowable deductions		327			167			422
Influence of different tax rates and changes in tax rates applicable to the Subsidiary		1,121			640			510
Withholding tax, see note 10c above		400			1,350			-
Uncertain tax position		-			(15	)		(1	)
Taxes on income (tax benefit) for the reported year	$	400		$	1,335		$	(1	)

Uncertainty in Income Taxes

Accounting Standards Codification No.740 “Income Taxes” requires significant judgment in determining what constitutes an individual tax position as well as assessing the outcome of each tax position. Changes in judgment as to recognition or measurement of tax positions can materially affect the estimate of the effective tax rate and consequently, affect the operating results of the Company. The Company recognizes interest and penalties related to its tax contingencies as income tax expense.

The following table summarizes the activity of the Company unrecognized tax benefits:

	Year ended August 31,
	2017		2016			2015
Balance at Beginning of Year	$	11	$	26			27
Decrease in uncertain tax positions for the current year		-		(15	)		(1	)
Balance at End of Year	$	11	$	11		$	26

The CoThe Company does not expect unrecognized tax expenses to change significantly over the next 12 months.

The Company is subject to U.S. Federal income tax examinations for the tax years of 2013 through 2017.

The Subsidiary is subject to Israeli income tax examinations for the tax years of 2013 through 2017.

Valuation Allowance Rollforward

	Year ended August 31,
	Balance at beginning of period		Additions		Balance at end of period
Allowance in respect of carryforward tax losses:
Year ended August 31, 2017	$	9,219	$	2,080	$	11,299
Year ended August 31, 2016	$	6,656		2,563		9,219
Year ended August 31, 2015	$	5,578	$	1,078	$	6,656

Related Parties - Transactions

12 Months Ended

Aug. 31, 2017

NOTE 11 - RELATED PARTIES - TRANSACTIONS:

During each of the fiscal years of 2017, 2016 and 2015 the Company paid to directors $100, $92 and $47, respectively, as directors' fees.

On July 1, 2008, the Subsidiary entered into two consulting agreements with KNRY Ltd. (“KNRY”), an Israeli company owned by the CEO, whereby the CEO and the CSO, through KNRY, provide services to the Company (the “Consulting Agreements”). The Consulting Agreements are both terminable by either party upon 60 days prior written notice. The Consulting Agreements, as amended, provide that KNRY will be reimbursed for reasonable expenses incurred in connection with performance of the Consulting Agreements and that the monthly consulting fee paid to the CEO and the CSO is NIS 127,570 ($35) and NIS 80,454 ($22), respectively.

Balances with related parties:

	August 31,
	2017		2016
Accounts payable and accrued expenses - KNRY	$	-	$	48

Expenses to related parties:

	Year ended August 31,
	2017		2016		2015
KNRY	$	868	$	839	$	586

Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2017

Significant Accounting Policies [Abstract]

General

General

Incorporation and operations

On May 14, 2007, the Company incorporated a wholly-owned subsidiary in Israel, Oramed Ltd. (the “Subsidiary”), which is engaged in research and development.

On March 11, 2011, the Company was reincorporated from the State of Nevada to the State of Delaware.

The License Agreement shall remain in effect until the expiration of the Royalty Term. The License Agreement contains customary termination provisions.

The following table summarizes the activities for deferred revenues for the years ended August 31, 2017 and 2016:

	August 31,
	2017			2016

Deferred revenue at the beginning of period	$	14,766		$	-
Amounts received		4,000			15,383
Amounts the Company was entitled to		(24	)		24
Revenue recognized		(2,456	)		(641	)
Deferred revenue at the end of period		16,286			14,766
Less – current deferred revenue portion		(2,449	)		(2,162	)
Non-current deferred revenue portion	$	13,837		$	12,604

Development and liquidity risks

Basis of presentation

Basis of presentation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Use of estimates in the preparation of financial statements

Use of estimates in the preparation of financial statements

Functional currency

Functional currency

Principles of consolidation

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its Subsidiary. All inter-company transactions and balances have been eliminated in consolidation.

Cash equivalents

Cash equivalents

Fair value measurement

Fair value measurement:

Level 1:

Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2:

Observable prices that are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:

Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

As of August 31, 2017, the assets or liabilities measured at fair value are comprised of available for sale equity securities (level 1).

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible.

As of August 31, 2017, the carrying amount of long-term deposits approximates their fair values due to the stated interest rates which approximate market rates.

The fair value of held to maturity bonds as presented in note 3 was based on a level 1 measurement.

The amounts funded in respect of employee rights are stated at cash surrender value which approximates its fair value.

There were no Level 3 items for the years ended August 31, 2017, 2016 and 2015.

Marketable securities

Marketable securities

1) Available-for-sale securities

Concentration of credit risks

Concentration of credit risks

As of the date of issuing these financial statements, all amounts due from HTIT have been received, as described in note 1 above.

Income taxes

Income taxes

1. Deferred taxes

2. Uncertainty in income tax

Revenue recognition

Revenue recognition

Revenue is recognized when delivery has occurred, evidence of an arrangement exists, title and risks and rewards for the products are transferred to the customer and collection is reasonably assured.

Cost of revenues

Cost of revenues

Cost of revenues consists of royalties related to the License Agreement with HTIT. The royalties are recognized when proceeds related to the License Agreement are received.

Research and development, net

Research and development, net

Stock-based compensation

Stock-based compensation

The Company elects to account for forfeitures as they occur.

Loss per common share

Loss per common share

Newly issued and recently adopted Accounting Pronouncements

Newly issued and recently adopted Accounting Pronouncements

Short-Term Deposits (Tables)

12 Months Ended

Aug. 31, 2017

Short-Term Deposits/ Long-Term Deposits [Abstract]

Schedule of short-term debt

	August 31,
	2017					2016
	Annual interest rate			Amount		Annual interest rate			Amount
Dollar deposits		1.84-5.95	%	$	13,293		0.85-2	%	$	24,254

Marketable Securities (Tables)

12 Months Ended

Aug. 31, 2017

Marketable Securities [Abstract]

Schedule of marketable securities include investments in equity securities

	August 31,
	2017		2016
Short-term:
D.N.A (see b below)	$	996	$	701
Held to maturity bonds (see c below)		1,864		2,154
	$	2,860	$	2,855
Long-term:
Held to maturity bonds (see c below)	$	2,151	$	530

Schedule of amortized cost and estimated fair value of held-to-maturity securities

	August 31, 2017
	Amortized cost		Gross unrealized losses			Estimated fair value
Short-term:
Commercial bonds	$	1,823	$	(1	)	$	1,822
Accrued interest		41		-			41

Long-term		2,151		-			2,151
	$	4,015	$	(1	)	$	4,014

	August 31, 2016
	Amortized cost		Gross unrealized gains		Estimated fair value
Short-term:
Commercial bonds	$	2,118	$	-	$	2,118
Accrued interest		36		-		36

Long-term		530		1		531
	$	2,684	$	1	$	2,685

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

Short-Term Deposits/ Long-Term Deposits [Abstract]

Long-Term Deposits (Tables)

12 Months Ended

Aug. 31, 2017

Schedule of long-term deposits

	August 31,
	2017		2016

Bank deposits (see (1) below)	$	16,230	$	11,038
Lease car deposits		1		4
Investment		1		1
	$	16,232	$	11,043

(1)

Represents U.S. dollar bank deposits which carry fixed annual interest rates between 2.06% to 2.56%, with maturities of more than one year from balance sheet date. The latest maturity date is during the year ending August 31, 2019.

Schedule of warrant activity

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Aug. 31, 2017

Stockholders' Equity [Abstract]

	2017					2016					2015
	Warrants			Weighted- Average Exercise Price		Warrants			Weighted- Average Exercise Price		Warrants		Weighted- Average Exercise Price
Warrants outstanding as of September 1		615,338		$	5.92		981,940		$	5.29		953,369	$	5.15
Issued		-		$	-		-		$	-		28,571	$	10.00
Exercised		(248,882	)	$	4.99		(331,054	)	$	4.04		-	$	-
Expired		(199,814	)	$	6.82		(35,548	)	$	6.00		-	$	-
Warrants outstanding as of August 31		166,642		$	6.46		615,338		$	5.92		981,940	$	5.29
Warrants exercisable as of August 31		166,642		$	6.46		615,338		$	5.92		981,496	$	5.29

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

Schedule of fair value of option grant using the Black Scholes option-pricing model

Stock-Based Compensation (Tables)

12 Months Ended

Aug. 31, 2017

Stock-Based Compensation [Abstract]

	For options granted in the year ended August 31,
	2017		2016
Expected option life (years)		5.00-10.00		10.00
Expected stock price volatility (%)		74.15-77.29		80.46
Risk free interest rate (%)		1.83-2.47		2.24
Expected dividend yield (%)		0.0		0.0

Schedule of stock options granted to employees and directors

	Year ended August 31,
	2017					2016				2015
	Number of options			Weighted average exercise price		Number of options		Weighted average exercise price		Number of options			Weighted average exercise price
				$				$					$
Options outstanding at beginning of year		904,234			6.75		904,234		6.75		908,901			6.75
Changes during the year:
Granted		427,497			7.51		-		-		-			-
Forfeited		-			-		-		-		(3,297	)		6.00
Expired		(59,282	)		10.27
Exercised		63,900			5		-		-		(1,370	)		6.00
Options outstanding at end of year		1,208,549			6.94		904,234		6.75		904,234			6.75
Options exercisable at end of year		808,783					904,234				883,234
Weighted average fair value of options granted during the year	$	4.75				$	-			$	-

Schedule of options granted to employees and directors outstanding and exercisable

Range of exercise prices	Number outstanding		Weighted Average Remaining Contractual Life		Weighted average exercise price		Aggregate intrinsic value
$			Years		$		$
1.00 to 6.00		442,671		3.92		4.74		1,730,803
6.48 to 7.88		635,959		7.09		7.47		751,863
8.57 to 12.45		129,919		7.12		11.85		1,600
		1,208,549		5.93		6.94		2,484,266

Schedule of stock options granted to non-employees outstanding

	Year ended August 31,
	2017					2016					2015
	Number of options			Weighted average exercise price		Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
				$					$					$
Options outstanding at beginning of year		29,668			8.35		40,286			7.29		62,221			7.13
Changes during the year:
Granted		37,152			6.00		22,000			7.36
Exercised		-			-		(18,718	)		6.00		-			-
Forfeited		-			-		(9,000	)		7.36
Expired		(11,334	)		8.65		(4,900	)		6.00		(21,935	)		6.82
Options outstanding at end of year		55,486			6.71		29,668			8.35		40,286			7.29
Options exercisable at end of year		27,622					29,668					36,119

Schedule of concerning the options granted to non-employees outstanding and exercisable

Range of exercise prices		Number outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Aggregate intrinsic value
$				Years		$		$
	6.00		37,152		9.56		6.00		98,453
	7.36		10,000		8.22		7.36		12,900
	9.12		8,334		1.36		9.12		-
			55,486		8.09		6.71		111,353

Schedule of activities for unvested RSUs granted to employees and directors

	Year ended August 31,
	2017			2016			2015
	Number of RSUs
Unvested at the beginning of period		201,669			313,216			-
Granted		178,120			1,000			346,704
Vested and issued		(159,353	)		(101,459	)		(33,488	)
Forfeited		(22,160	)		(11,088	)		-
Outstanding at the end of the period		198,276			201, 669			313,216
Vested and unissued (see notes 8a, 8c and 8j(2))		164,636			152,656			72,808

Financial Income and Expenses (Tables)

12 Months Ended

Aug. 31, 2017

Financial Income and Expenses [Abstract]

Schedule of financial income

	Year ended August 31,
		2017		2016		2015
Income from interest on deposits		$	657	$	378	$	160
Exchange rate differences			7		-		-
Income from interest on corporate bonds			128		96		8
		$	792	$	474	$	168

Schedule of financial expenses

	Year ended August 31,
	2017		2016		2015
Exchange rate differences	$	17	$	17	$	3
Bank commissions		6		11		9
Other		78		65		6
	$	101	$	93	$	18

Taxes on Income (Tables)

12 Months Ended

Aug. 31, 2017

Taxes on Income [Abstract]

Schedule of deferred income taxes

	August 31,
		2017			2016			2015
In respect of:

Net operating loss carryforward		$	9,253		$	9,219		$	5,750
Research and development expenses			2,046			-			906
Less - valuation allowance			(11,299	)		(9,219	)		(6,656	)
Net deferred tax assets		$	-		$	-		$	-

Schedule of income taxes included in the income statements

	Year ended August 31,
		2017		2016			2015
Loss before taxes on income:
U.S.		$	1,115	$	959		$	1,226
Outside U.S.			8,965		8,670			6,007
		$	10,080	$	9,629		$	7,233
Taxes on income (tax benefit):
Current:
U.S.			-		(15	)		-
Outside U.S.			400		1,350			(1	)
		$	400	$	1,335		$	(1	)

Schedule of reconciliation of income taxes

	Year ended August 31,
	2017			2016			2015
Loss before income taxes as reported in the consolidated statement of comprehensive loss	$	(10,080	)	$	(9,629	)	$	(7,233	)
Statutory tax benefit		(3,528	)		(3,370	)		(2,531	)
Increase (decrease) in income taxes resulting from:
Change in the balance of the valuation allowance for deferred tax		2,080			2,563			1,599
Disallowable deductions		327			167			422
Influence of different tax rates and changes in tax rates applicable to the Subsidiary		1,121			640			510
Withholding tax, see note 10c above		400			1,350			-
Uncertain tax position		-			(15	)		(1	)
Taxes on income (tax benefit) for the reported year	$	400		$	1,335		$	(1	)

Schedule of unrecognized tax benefits activity

	Year ended August 31,
		2017		2016			2015
Balance at Beginning of Year		$	11	$	26			27
Decrease in uncertain tax positions for the current year			-		(15	)		(1	)
Balance at End of Year		$	11	$	11		$	26

Schedule of valuation allowance rollforward

	Year ended August 31,
	Balance at beginning of period		Additions		Balance at end of period
Allowance in respect of carryforward tax losses:
Year ended August 31, 2017	$	9,219	$	2,080	$	11,299
Year ended August 31, 2016	$	6,656		2,563		9,219
Year ended August 31, 2015	$	5,578	$	1,078	$	6,656

Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Significant Accounting Policies [Abstract]
Deferred revenue at the beginning of period	$ 14,766
Amounts received	4,000	15,383
Amounts the Company was entitled to	(24)	24
Revenue recognized	(2,456)	(641)
Deferred revenue at the end of period	16,286	14,766
Less - current deferred revenue portion	2,449	2,162
Non-current deferred revenue portion	$ 13,837	$ 12,604

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.