Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Aug. 31, 2021
Aug. 31, 2020
Revenues:    
Total revenues $ 17,125 $ 25,855
Expenses:    
Water service operations (1,546) (804)
Wastewater service operations (370) (200)
Land development construction costs (2,535) (15,870)
Depletion and depreciation (1,457) (1,367)
Other (494) (70)
Total cost of revenues (6,402) (18,311)
Gross profit 10,723 7,544
General and administrative expenses (5,139) (4,250)
Non-cash mineral interest impairment charge   (1,425)
Depreciation (315) (356)
Operating income 5,269 1,513
Other income:    
Recognition of public improvement reimbursables including interest income - related party 20,217  
Oil and gas royalty income, net 324 669
Oil and gas lease income, net 196 247
Interest income from investments 59 178
Other 40 36
Reimbursement of construction costs - related party 485 6,276
Income from operations before income taxes 26,590 8,919
Income tax expense (6,480) (2,169)
Net income 20,110 6,750
Unrealized holding losses   (4)
Total comprehensive income $ 20,110 $ 6,746
EARNINGS PER SHARE [Abstract]    
Basic (in dollars per share) $ 0.84 $ 0.28
Diluted (in dollars per share) $ 0.83 $ 0.28
Weighted average common shares outstanding:    
Basic (in shares) 23,890,792 23,845,015
Diluted (in shares) 24,110,918 24,061,612
Metered Water Usage - Municipal Customers [Member]    
Revenues:    
Total revenues $ 846 $ 524
Metered Water Usage - Industrial Oil and Gas [Member]    
Revenues:    
Total revenues 2,792 513
Wastewater Treatment Fees [Member]    
Revenues:    
Total revenues 199 96
Lot Sales [Member]    
Revenues:    
Total revenues 5,163 5,641
Project Management Fees [Member]    
Revenues:    
Total revenues 1,629  
Water and Wastewater Tap Fees [Member]    
Revenues:    
Total revenues 5,840 18,934
Other [Member]    
Revenues:    
Total revenues $ 656 $ 147