Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT CUSTOMERS

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SIGNIFICANT CUSTOMERS
 6 Months Ended
Feb. 28, 2014
Significant Customers  
SIGNIFICANT CUSTOMERS

NOTE 7 – SIGNIFICANT CUSTOMERS

 

The Company sells wholesale water and wastewater services to the District pursuant to the Rangeview Water Agreements (defined in Note 4 – Water Assets to the 2013 Annual Report). Sales to the District accounted for 9% and 24% of the Company’s total water and wastewater revenues for the three months ended February 28, 2014 and 2013, respectively. Sales to the District accounted for 10% and 45% of the Company’s total water and wastewater revenues for the six months ended February 28, 2014 and 2013, respectively. The District has one significant customer. Pursuant to the Rangeview Water Agreements the Company is providing water and wastewater services to this customer on behalf of the District. The District’s significant customer accounted for 8% and 24% of the Company’s total water and wastewater revenues for the three months ended February 28, 2014 and 2013, respectively. The District’s significant customer accounted for 8% and 37% of the Company’s total water and wastewater revenues for the six months ended February 28, 2014 and 2013, respectively.

 

Revenues related to the provision of water for the oil and gas industry to one customer accounted for 86% and 71% of the Company’s water and wastewater revenues for the three months ended February 28, 2014 and 2013, respectively. Revenues indirectly related to the provision of water for the oil and gas industry to one customer accounted for 87% and 50% of the Company’s water and wastewater revenues for the six months ended February 28, 2014 and 2013, respectively.

 

The Company had accounts receivable from the District which accounted for 5% and 14% of the Company’s trade receivables balances at February 28, 2014 and August 31, 2013, respectively. Accounts receivable from the District’s largest customer accounted for 5% and 12% of the Company’s trade receivables as of February 28, 2014 and August 31, 2013, respectively. Accounts receivable related to the oil and gas industry accounted for 36% and 27% of the Company’s trade receivable balances at February 28, 2014 and August 31, 2013.