Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING

v3.3.0.814
SEGMENT REPORTING
 12 Months Ended
Aug. 31, 2015
Segment Information  
SEGMENT REPORTING

The Company operates primarily in two lines of business: (i) the wholesale water and wastewater business; and (ii) the agricultural farming business. The Company provides wholesale water and wastewater services to customers using water rights owned by the Company and develops infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater. The Company's agricultural business consists of the Company leasing its Arkansas River land and water to area farmers under cash leases or in certain cases crop share leases. The following tables show information by operating segment for the fiscal years ended August 31, 2015, 2014, and 2013:

 

Fiscal Year Ended August 31, 2015  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 1,020,100     $ 1,127,200     $ 176,500     $ 2,323,800  
 Gross profit     315,800       1,000,900       121,300       1,438,000  
 Depletion and depreciation     347,100       -       -       347,100  
 Other significant noncash items:                                
           Stock-based compensation     -       -       240,000       240,000  
            TPF interest expense     23,800       -       -       23,800  
            Loss on sale of land and water assets     -       (22,108,100 )     -       (22,108,100 )
 Segment assets     28,864,000       5,767,900       38,429,000       73,060,900  
 Expenditures for segment assets     3,496,000       3,400       -       3,499,400  

  

 

Fiscal Year Ended August 31, 2014  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 1,924,900     $ 1,068,000     $ 98,200     $ 3,091,100  
 Gross profit     1,189,200       979,900       58,800       2,227,900  
 Depletion and depreciation     196,600       -       -       196,600  
 Other significant noncash items:                                
           Stock-based compensation     -       -       251,900       251,900  
            TPF interest expense     1,445,500       -       -       1,445,500  
            Impairment of land and water rights held for sale     402,700       -       -       402,700  
            Gain on extinguishment of contingent obligation     832,100       -       -       832,100  
            Gain on sale of land and water rights held for sale     1,308,600       -       -       1,308,600  
 Segment assets     98,851,900       7,354,100       1,967,800       108,173,800  
 Expenditures for segment assets     3,878,100       -       -       3,878,100  

 

Fiscal Year Ended August 31, 2013  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 544,400     $ 1,241,900     $ 71,200     $ 1,857,500  
 Gross profit     248,600       1,145,600       70,000       1,464,200  
 Depletion and depreciation     311,300       -       -       311,300  
 Other significant noncash items:                                
           Stock-based compensation     -       -       66,800       66,800  
            TPF interest expense     3,275,400       -       -       3,275,400  
 Segment assets     93,522,800       6,697,500       8,398,000       108,618,300  
 Expenditures for segment assets     378,000       -       -       378,000