| Schedule of remaining third party obligation |
As a result of the acquisitions,
and due to the sale of Export Water, as detailed in the table below, the remaining potential third party obligation at February
28, 2014, is $3.4 million:
| |
|
Export Water Proceeds Received |
|
|
Initial Export Water Proceeds to Pure Cycle |
|
|
Total Potential Third party Obligation |
|
|
Paticipating Interests Liability |
|
|
Contingency |
|
| Original balances |
|
$ |
|
|
|
$ |
218,500 |
|
|
$ |
31,807,700 |
|
|
$ |
11,090,600 |
|
|
$ |
20,717,100 |
|
| Activity from inception until August 31, 2013: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisitions |
|
|
|
|
|
|
28,077,500 |
|
|
|
(28,077,500 |
) |
|
|
(9,790,000 |
) |
|
|
(18,287,500 |
) |
| Option payments - Sky Ranch and The Hills at Sky
Ranch |
|
|
110,400 |
|
|
|
(42,300 |
) |
|
|
(68,100 |
) |
|
|
(23,800 |
) |
|
|
(44,300 |
) |
| Arapahoe County tap fees * |
|
|
533,000 |
|
|
|
(373,100 |
) |
|
|
(159,900 |
) |
|
|
(55,800 |
) |
|
|
(104,100 |
) |
| Export Water sale payments |
|
|
269,300 |
|
|
|
(188,500 |
) |
|
|
(80,800 |
) |
|
|
(28,100 |
) |
|
|
(52,700 |
) |
| Balance at August 31, 2013 |
|
|
912,700 |
|
|
|
27,692,100 |
|
|
|
3,421,400 |
|
|
|
1,192,900 |
|
|
|
2,228,500 |
|
| Fiscal 2014 activity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Export Water sale payments |
|
|
43,000 |
|
|
|
(30,100 |
) |
|
|
(12,900 |
) |
|
|
(4,500 |
) |
|
|
(8,400 |
) |
| Balance at February 28, 2014 |
|
$ |
955,700 |
|
|
$ |
27,662,000 |
|
|
$ |
3,408,500 |
|
|
$ |
1,188,400 |
|
|
$ |
2,220,100 |
|
* The Arapahoe County
tap fees are less $34,522 in royalties paid to the Land Board.
|