v3.21.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
May 31, 2021
Aug. 31, 2020
Current assets:    
Cash, cash equivalents and restricted cash $ 19,796 $ 21,797
Trade accounts receivable, net 1,933 1,124
Prepaid expenses and other assets 528 1,001
Income taxes receivable 0 1,588
Total current assets 22,873 25,991
Investments in water and water systems, net 55,140 55,087
Land and mineral interests 5,625 4,915
Other assets 2,390 2,042
Long-term land investment 451 451
Operating leases - right of use assets, less current portion 141 196
Total assets 109,110 89,761
Current liabilities:    
Accounts payable 208 180
Accrued liabilities 1,070 1,391
Accrued liabilities - related parties 634 1,212
Income taxes payable 3,695 0
Deferred lot sale revenues 550 1,635
Deferred oil and gas lease payment and water sales payment 253 1,800
Total current liabilities 6,410 6,218
Deferred oil and gas lease payment and water sales payment, less current portion 22 165
Participating interests in export water supply 325 328
Deferred tax liability 1,509 886
Lease obligations - operating leases, less current portion 58 120
Total liabilities 8,324 7,717
Commitments and contingencies
SHAREHOLDERS' EQUITY:    
Preferred stock, Series B - par value $0.001 per share, 25 million shares authorized; 432,513 shares issued and outstanding (liquidation preference of $432,513)
Common stock, Par value 1/3 of $.01 per share, 40 million shares authorized; 23,910,133 and 23,856,098 shares outstanding, respectively 80 80
Additional paid-in capital 173,393 172,927
Accumulated other comprehensive income   0
Accumulated deficit (72,687) (90,963)
Total shareholders' equity 100,786 82,044
Total liabilities and shareholders' equity 109,110 89,761
Land Development - Phase 1 [Member]    
Current assets:    
Land development inventories 0 481
Land Development - Phase 2 [Member]    
Current assets:    
Land development inventories 172 0
Phase 2 Reimbursable Costs [Member]    
Current assets:    
Land development inventories 444 0
Phase 1 Reimbursable Costs [Member]    
Current assets:    
Notes receivable - related parties, including accrued interest 21,316 0
Other [Member]    
Current assets:    
Notes receivable - related parties, including accrued interest $ 1,174 $ 1,079

Source