v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
May 31, 2021
May 31, 2020
May 31, 2021
May 31, 2020
Revenues:        
Revenues $ 2,666 $ 1,850 $ 12,273 $ 15,829
Expenses:        
Water service operations (316) (95) (1,074) (556)
Wastewater service operations (102) (62) (258) (126)
Land development construction costs (99) (556) (2,087) (10,436)
Depletion and depreciation (358) (386) (1,077) (988)
Other (65) (7) (453) (34)
Total cost of revenues (940) (1,106) (4,949) (12,140)
Gross profit 1,726 744 7,324 3,689
General and administrative expenses (1,325) (801) (3,753) (2,639)
Depreciation (73) (86) (233) (266)
Operating income (loss) 328 (143) 3,338 784
Other income:        
Recognition of public improvement reimbursables including interest income - related party 284   19,888  
Oil and gas royalty income, net 97 74 248 613
Oil and gas lease income, net 48 62 148 185
Interest income from investments 15 24 45 162
Other 10 19 30 19
Reimbursement of construction costs - related party 0 0 485 6,276
Income from operations before income taxes 782 36 24,182 8,039
Income tax expense (158) (9) (5,906) (1,975)
Net income 624 27 18,276 6,064
Unrealized holding losses 0 0 0 (4)
Total comprehensive income $ 624 $ 27 $ 18,276 $ 6,060
Earnings per common share:        
Basic (in dollars per share) $ 0.03 $ 0.00 $ 0.77 $ 0.25
Diluted (in dollars per share) $ 0.03 $ 0.00 $ 0.76 $ 0.25
Weighted average common shares outstanding:        
Basic (in shares) 23,907,140 23,852,765 23,885,179 23,841,876
Diluted (in shares) 24,184,395 24,052,820 24,104,408 24,071,018
Metered Water Usage - Municipal Customers [Member]        
Revenues:        
Revenues $ 188 $ 98 $ 429 $ 238
Metered Water Usage - Oil and Gas Operations [Member]        
Revenues:        
Revenues 22 15 1,804 72
Wastewater Treatment Fees [Member]        
Revenues:        
Revenues 51 22 144 62
Water and Wastewater Tap Fees [Member]        
Revenues:        
Revenues 1,856 1,005 4,522 3,850
Lot Sales [Member]        
Revenues:        
Revenues 445 696 3,316 11,503
Project Management Fees - Recognized [Member]        
Revenues:        
Revenues 23 0 1,571 0
Special Facility Projects and Other [Member]        
Revenues:        
Revenues $ 81 $ 14 $ 487 $ 104

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