Annual report pursuant to Section 13 and 15(d)

Stockholders??? Equity (Details Narrative)

v3.21.4
Stockholders’ Equity (Details Narrative) - USD ($)
 12 Months Ended
Aug. 31, 2021
Aug. 26, 2021
Aug. 23, 2021
Aug. 10, 2021
Apr. 30, 2020
Aug. 26, 2016
Oct. 03, 2021
Sep. 27, 2020
Sep. 30, 2021
Sep. 22, 2021
Jun. 08, 2020
May 31, 2020
Sep. 29, 2019
Sep. 30, 2018
Oct. 01, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Shares issued during the period, shares   618,451         58,392 59,447              
Vested restricted stock units issued net of tax withholding, shares             83,000 84,500              
Warrants exercised     40,509 148,300                      
Exercise price of warrants     $ 1.50 $ 1.50                      
Proceeds from warrant exercised             $ 283,000              
Payment for repurchase of shares             869,000 200,000              
Stock repurchased during the period, value [1]             $ 869,000 $ 200,000              
Common shares outstanding             8,488,149 8,690,136              
Warrants exercise description             Subject to limited exceptions, a holder of warrants did have the right to exercise any portion of its warrants if the holder (together with such holder’s affiliates, and any persons acting as a group together with such holder or any of such holder’s affiliates) would beneficially own a number of shares of common stock in excess of 4.99% of the shares of our common stock then outstanding after giving effect to such exercise (the “Beneficial Ownership Limitation”); provided, however, that, upon notice to the Company, the holder could increase or decrease the Beneficial Ownership Limitation, provided that in no event could the Beneficial Ownership Limitation have exceeded 9.99% and any increase in the Beneficial Ownership Limitation would not be effective until 61 days following notice of such increase from the holder to us.                
Stock Repurchase Plan [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Stock repurchased during the period             519,266                
Stock repurchase program, authorized amount                 $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,000,000      
Common Stock [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Shares issued during the period, shares             0 0              
Stock repurchased during the period, value [1]                          
Common Stock [Member] | Stock Repurchase Plan [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Stock repurchased during the period             449,088 105,733              
Stock repurchased during the period, value             $ 869,000 $ 200,000              
Warrant [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Warrants exercised             188,809 0              
Exercise price of warrants [2]   $ 1.50 [3]       $ 1.50   $ 1.50         $ 1.50 $ 1.50 $ 1.50
Proceeds from warrant exercised     $ 283,000                        
Fair market value of warrant exercised     $ 292,000                        
Class of Warrant, Outstanding             4,125,200         4,125,200    
Warrants repurchases             0 0              
Warrants expired   3,936,391                          
Treasury Stock [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Stock repurchased during the period [1]             449,088 105,733              
Stock repurchased during the period, value [1]             $ 869,000 $ 200,000              
Treasury Stock [Member] | June 2020 Stock Repurchase Plan [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Stock repurchased during the period               105,733              
Treasury Stock [Member] | September 2021 Stock Repurchase Plan [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Stock repurchased during the period             35,555                
Private Investor [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Stock repurchased during the period 100                            
Payment for repurchase of shares $ 150,000                            
New Shareholders [Member] | Warrant [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Exercise price of warrants           $ 1.50                  
Warrants issued           4,323,135                  
Restricted Stock [Member] | Independent Board Members [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Shares issued during the period, shares         300,000                    
Dividend Declared [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Dividends             $ 0 $ 0              
Dividend Paid [Member]                              
Accumulated Other Comprehensive Income (Loss) [Line Items]                              
Dividends             $ 0 $ 0              
[1] Common shares repurchased in the open market between June 11, 2020 and October 3, 2021. On June 14, 2021, 519,266 of the repurchased shares were cancelled, and as of October 3, 2021, 35,555 shares were held in treasury stock using the cost method.
[2] Based on the terms provided in the warrant agreement to purchase common stock of Optex Systems Holdings, Inc. dated August 26, 2016.
[3] Warrants expired worthless without cashless exchange pursuant to the Warrant Agreement Section 2(c) determination that the August 26, 2021 VWAP calculation of $1.49 was below the exercise price of $1.50.