v3.21.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 30, 2021
Aug. 31, 2021
Current assets:    
Cash and cash equivalents $ 12,914 $ 20,117
Trade accounts receivable, net 1,217 1,532
Prepaid expenses and other assets 289 458
Land under development 1,030 608
Notes receivable - reimbursable public improvements - related party 16,000 16,000
Total current assets 31,450 38,715
Restricted cash 2,328 2,327
Water And Water Systems, Net 53,506 53,786
Construction in progress 3,016 3,304
Single-family rental units 1,008  
Land and mineral rights:    
Held for development 7,343 5,924
Held for investment purposes 451 451
Other assets 2,569 2,591
Operating leases - right of use assets, less current portion 102 122
Total assets 116,351 117,177
Current liabilities:    
Accounts payable 2,019 1,787
Accrued liabilities 669 1,224
Accrued liabilities - related parties 2,049 2,881
Income taxes payable 1,185 4,163
Deferred lot sale revenues 2,831 1,995
Deferred oil and gas lease payment and water sales payment 271 410
Debt 7  
Total current liabilities 9,031 12,460
Participating interests in export water supply 325 325
Debt, less current portion 993  
Deferred tax liability, net 1,621 1,615
Lease obligations - operating leases, less current portion 15 37
Total liabilities 11,985 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 million authorized; 23,923,100 and 23,916,633 outstanding, respectively 80 80
Additional paid-in capital 173,625 173,513
Accumulated deficit (69,339) (70,853)
Total shareholders' equity 104,366 102,740
Total liabilities and shareholders' equity 116,351 117,177
Phase 1 Reimbursable Costs [Member]    
Land and mineral rights:    
Notes receivable - related parties, including accrued interest 13,517 8,794
Other [Member]    
Land and mineral rights:    
Notes receivable - related parties, including accrued interest $ 1,061 $ 1,163

Source