v3.22.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Feb. 28, 2022
Aug. 31, 2021
Current assets:    
Cash and cash equivalents $ 5,215 $ 20,117
Trade accounts receivable, net 2,038 1,532
Prepaid expenses and other assets 975 458
Land under development 1,080 608
Notes receivable - reimbursable public improvements - related party 16,000 16,000
Total current assets 25,308 38,715
Restricted cash 2,328 2,327
Investments in water and water systems, net 53,250 53,786
Construction in progress 2,731 3,304
Single-family rental units 997  
Land and mineral rights:    
Held for development 7,872 5,924
Held for investment purposes 451 451
Other assets 2,494 2,591
Operating leases - right of use assets, less current portion 83 122
Total assets 113,361 117,177
Current liabilities:    
Accounts payable 873 1,787
Accrued liabilities 1,005 1,224
Accrued liabilities - related parties 668 2,881
Income taxes payable 87 4,163
Deferred lot sale revenues 1,203 1,995
Deferred water sales revenues 439 410
Debt, current portion 12  
Total current liabilities 4,287 12,460
Participating interests in export water supply 324 325
Debt, less current portion 988  
Deferred tax liability, net 1,410 1,615
Lease obligations - operating leases, less current portion   37
Total liabilities 7,009 14,437
Commitments and contingencies
SHAREHOLDERS' EQUITY:    
Series B preferred shares par value $0.001 per share, 25 million authorized; 432,513 issued and outstanding (liquidation preference of $432,513)
Common shares par value 1/3 of $.01 per share, 40.0 million authorized; 23,958,522 and 23,916,633 outstanding, respectively 80 80
Additional paid-in capital 173,918 173,513
Accumulated deficit (67,646) (70,853)
Total shareholders' equity 106,352 102,740
Total liabilities and shareholders' equity 113,361 117,177
Phase 1 Reimbursable Costs [Member]    
Land and mineral rights:    
Notes receivable - related parties, including accrued interest: 16,963 8,794
Other [Member]    
Land and mineral rights:    
Notes receivable - related parties, including accrued interest: $ 884 $ 1,163

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