Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
May 31, 2016
May 31, 2015
Cash flows from operating activities:    
Net loss $ (790,510) $ (45,440)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and depletion 307,834 258,909
Investment in Well Enhancement Recover Systems, LLC 8,004 1,565
Stock-based compensation expense 167,061 186,296
Interest income and other non-cash items (37,299) (315)
Interest added to receivable from related parties (22,503) (10,812)
Changes in operating assets and liabilities:    
Trade accounts receivable 248,731 1,452,996
Sky Ranch Receivable 0 (83,500)
Prepaid expenses (145,826) 63,997
Notes receivable - related parties (26,483) (95,500)
Accounts payable and accrued liabilities (486,170) (1,115,206)
Income taxes (292,729) 0
Deferred revenues (41,852) (49,037)
Deferred oil & gas lease payment (354,765) (484,290)
Net cash provided by (used in) operating activities from continuing operations (1,466,507) 79,663
Net cash provided by (used in) operating activities from discontinued operations 1,251,527 (535,274)
Net cash (used in) provided by operating activities (214,980) (455,611)
Cash flows from investing activities:    
Purchase of short-term investments (23,142,484) 0
Purchase of long-term investments (7,026,424) 0
Investments in water, water systems, and land (695,746) (1,900,267)
Purchase of property and equipment (441,768) (17,186)
Net cash used in investing activities from continuing operations (31,306,422) (1,917,453)
Net cash provided by (used in) investing activities from discontinued operations (451,347) 699,826
Net cash used in investing activities (31,757,769) (1,217,627)
Cash flows from financing activities:    
Payments to contingent liability holders (1,629) (7,642)
Net cash used in financing activities from continuing operations (1,629) (7,642)
Net cash provided by financing activities from discontinued operations 674,710
Net cash provided by (used in) financing activities (1,629) 667,068
Net change in cash and cash equivalents (31,974,378) (1,006,170)
Cash and cash equivalents - beginning of period 37,089,041 1,749,558
Cash and cash equivalents - end of period 5,114,663 743,388
SUPPLEMENTAL DISCLSOURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Retirement of Collateral Stock $ 1,407,000  
Net reduction in Tap Participation Fee liability and HP A&M receivable collateral stock and mineral rights received as result of settlement of the Arkansas River Agreement   1,894,203
Assets acquired through WISE funding obligation   $ 1,400,000