Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Nov. 30, 2017
Aug. 31, 2017
Current assets:    
Cash and cash equivalents $ 3,704,357 $ 5,575,823
Short-term investments 20,940,961 20,055,345
Trade accounts receivable 1,444,979 663,762
Sky Ranch receivable 0 215,504
Prepaid expenses and other current assets 385,720 503,100
Assets of discontinued operations, net 101,175 110,748
Total current assets 26,577,192 27,124,282
Long-term investments 187,945 187,975
Investments in water and water systems, net 34,710,354 34,575,713
Land and mineral interests 6,455,262 6,248,371
Notes receivable - related parties, including accrued interest 821,372 776,364
Other assets 413,687 424,226
Assets of discontinued operations held for sale 450,641 450,641
Total assets 69,616,453 69,787,572
Current liabilities:    
Accounts payable 158,224 492,410
Accrued liabilities 384,777 380,852
Deferred revenues 0 55,800
Deferred oil and gas lease payment 55,733 0
Liabilities of discontinued operations 10,584 11,165
Total current liabilities 609,318 940,227
Deferred revenues, less current portion 0 999,688
Deferred oil and gas lease payment, less current portion 102,177 0
Participating Interests in Export Water Supply 340,606 341,558
Total liabilities 1,052,101 2,281,473
Preferred stock:    
Series B - par value $.001 per share, 25 million shares authorized; 432,513 shares issued and outstanding (liquidation preference of $432,513) 433 433
Common stock:    
Par value 1/3 of $.01 per share, 40 million shares authorized; 23,754,098 and 23,754,098 shares outstanding, respectively 79,185 79,185
Additional paid-in capital 171,511,679 171,431,486
Accumulated other comprehensive income (loss) 8,517 (11,105)
Accumulated deficit (103,035,462) (103,993,900)
Total shareholders' equity 68,564,352 67,506,099
Total liabilities and shareholders' equity $ 69,616,453 $ 69,787,572