Quarterly report pursuant to Section 13 or 15(d)

10. SEGMENT INFORMATION

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10. SEGMENT INFORMATION
 9 Months Ended
May. 31, 2015
Segment Information  
SEGMENT INFORMATION

The Company operates primarily in two lines of business: (i) the wholesale water and wastewater business; and (ii) the agricultural farming business. The Company provides wholesale water and wastewater services to customers using water rights owned by the Company and develops infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater. The Company’s agricultural business consists of the Company leasing its Arkansas River Valley land and water to area farmers under cash leases or in certain cases crop share leases. The following tables show information by operating segment for the three and nine months ended May 31, 2015 and 2014:

  

Three Months Ended May 31, 2015  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 85,800     $ 270,600     $ 34,500     $ 390,900  
 Gross (loss) profit     (39,300 )     247,500       19,800       228,000  
 Depletion and depreciation     86,800       -       -       86,800  
 Other significant noncash items:                                
           Stock-based compensation     -       -       53,700       53,700  
            TPF interest expense     -       -       -       -  
 Segment assets     93,561,100       8,396,400       937,400       102,894,900  
 Expenditures for segment assets     36,200       600       -       36,800  

 

Three Months Ended May 31, 2014  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 335,800     $ 328,800     $ 13,900     $ 678,500  
 Gross profit     184,700       305,800       13,900       504,400  
 Depletion and depreciation     7,200       -       -       7,200  
 Other significant noncash items:                                
           Stock-based compensation     -       -       68,800       68,800  
            TPF interest expense     248,800       -       -       248,800  
 Segment assets     96,813,900       6,571,000       3,272,700       106,657,600  
 Expenditures for segment assets     399,000       -       -       399,000  

 

Nine Months Ended May 31, 2015  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 931,000     $ 818,900     $ 131,300     $ 1,881,200  
 Gross profit     475,100       748,900       95,500       1,319,500  
 Depletion and depreciation     258,900       -       -       258,900  
 Other significant noncash items:                                
           Stock-based compensation     -       -       186,300       186,300  
            TPF interest expense     23,800       -       -       23,800  
 Segment assets     93,561,100       8,396,400       937,400       102,894,900  
 Expenditures for segment assets     1,904,500       3,500       -       1,908,000  

 

Nine Months ended May 31, 2014  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 1,095,400     $ 855,700     $ 41,900     $ 1,993,000  
 Gross profit     620,800       791,300       41,900       1,454,000  
 Depletion and depreciation     30,100       -       -       30,100  
 Other significant noncash items:                                
           Stock-based compensation     -       -       183,100       183,100  
            TPF interest expense     1,309,100       -       -       1,309,100  
 Segment assets     96,813,900       6,571,000       3,272,700       106,657,600  
 Expenditures for segment assets     918,100       -       -       918,100