Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
May 31, 2025
May 31, 2024
May 31, 2025
May 31, 2024
Revenues:        
Total revenues $ 5,140 $ 7,604 $ 14,887 $ 16,187
Cost of revenues:        
Depletion and depreciation 409 410 1,248 1,132
Other 121 174 576 406
Total cost of revenues 1,883 2,738 6,437 6,202
General and administrative expenses 1,798 1,647 6,295 5,082
Depreciation 125 151 429 447
Operating income 1,334 3,068 1,726 4,456
Other income (expense):        
Interest income - Investments 210 279 675 873
Oil and gas royalty income, net 1,140 392 5,857 479
Oil and gas lease income, net   18   56
Interest expense, net (101) (109) (319) (328)
Income from operations before income taxes 2,993 3,852 9,277 6,813
Income tax expense (737) (1,027) (2,275) (1,805)
Net income $ 2,256 $ 2,825 $ 7,002 $ 5,008
Earnings per common share - basic and diluted        
Basic (in dollars per share) $ 0.09 $ 0.12 $ 0.29 $ 0.21
Diluted (in dollars per share) $ 0.09 $ 0.12 $ 0.29 $ 0.21
Weighted average common shares outstanding:        
Weighted average common shares outstanding, Basic (in shares) 24,076,022 24,087,170 24,077,188 24,085,578
Weighted average common shares outstanding, Diluted (in shares) 24,143,534 24,143,039 24,166,926 24,146,361
Related Party        
Other income (expense):        
Other, net $ 417 $ 217 $ 1,223 $ 1,156
Nonrelated Party        
Other income (expense):        
Other, net (7) (13) 115 121
Water service operations        
Cost of revenues:        
Expenses 533 564 1,418 1,628
Metered Water Usage - Municipal Customers        
Revenues:        
Total revenues 148 145 507 458
Metered Water Usage-Commercial Customers        
Revenues:        
Total revenues 149 1,432 1,324 5,045
Wastewater service operations        
Cost of revenues:        
Expenses 237 173 642 513
Wastewater treatment fees        
Revenues:        
Total revenues 102 85 284 258
Water and wastewater tap fees        
Revenues:        
Total revenues 1,700 581 5,292 1,162
Lot sales        
Revenues:        
Total revenues 2,526 4,795 5,981 7,906
Land development construction costs        
Cost of revenues:        
Expenses 437 1,192 2,060 1,961
Project management costs        
Cost of revenues:        
Expenses 106 154 360 401
Project management fees        
Revenues:        
Total revenues 138 221 507 362
Single-family rentals        
Revenues:        
Total revenues 131 123 373 357
Cost of revenues:        
Expenses 40 71 133 161
Special facility projects and other        
Revenues:        
Total revenues $ 246 $ 222 $ 619 $ 639