CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
May 31, 2019 |
May 31, 2018 |
May 31, 2019 |
May 31, 2018 |
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| Revenues: | ||||||||
| Total revenues | $ 5,184,663 | $ 1,212,119 | $ 10,887,631 | $ 3,066,911 | ||||
| Expenses: | ||||||||
| Water service operations | (400,495) | (418,280) | (965,279) | (906,899) | ||||
| Wastewater service operations | (14,512) | (6,632) | (21,889) | (21,303) | ||||
| Land development construction costs | (2,588,072) | 0 | (5,715,994) | 0 | ||||
| Other | (33,889) | (24,243) | (104,162) | (64,822) | ||||
| Depletion and depreciation | (225,334) | (145,887) | (537,709) | (376,608) | ||||
| Total cost of revenues | (3,262,302) | (595,042) | (7,345,033) | (1,369,632) | ||||
| Gross profit | 1,922,361 | 617,077 | 3,542,598 | 1,697,279 | ||||
| General and administrative expenses | (665,684) | (635,502) | (1,864,125) | (1,816,110) | ||||
| Depreciation | (97,846) | (69,373) | (276,251) | (183,370) | ||||
| Operating (loss) income | 1,158,831 | (87,798) | 1,402,222 | (302,201) | ||||
| Other income (expense): | ||||||||
| Oil and gas lease income, net | 13,933 | 13,933 | 41,800 | 37,156 | ||||
| Oil and gas royalty income, net | 37,263 | 61,113 | 113,104 | 152,653 | ||||
| Interest income | 53,986 | 69,027 | 246,809 | 176,001 | ||||
| Other | (2,642) | (1,674) | (4,617) | (5,456) | ||||
| Income from operations before income taxes | 1,261,371 | 54,601 | 1,799,318 | 58,153 | ||||
| Income tax expense | 0 | 0 | 0 | 0 | ||||
| Net income | 1,261,371 | 54,601 | 1,799,318 | 58,153 | ||||
| Unrealized holding gains (losses) | (31) | 40,613 | (53,790) | 71,330 | ||||
| Total comprehensive income | $ 1,261,340 | $ 95,214 | $ 1,745,528 | $ 129,483 | ||||
| Basic net income (loss) per common share (in dollars per share) | $ 0.05 | [1] | $ 0.08 | [1] | ||||
| Diluted net income (loss) per common share (in dollars per share) | $ 0.05 | [1] | $ 0.07 | [1] | ||||
| Weighted average common shares outstanding-basic (in shares) | 23,801,598 | 23,764,098 | 23,791,320 | 23,759,654 | ||||
| Weighted average common shares outstanding-diluted (in shares) | 24,003,242 | 23,955,046 | 23,998,254 | 23,913,863 | ||||
| Metered Water Usage [Member] | ||||||||
| Revenues: | ||||||||
| Total revenues | $ 1,396,926 | $ 1,162,570 | $ 2,923,795 | $ 2,888,913 | ||||
| Wastewater Treatment Fees [Member] | ||||||||
| Revenues: | ||||||||
| Total revenues | 7,419 | 11,675 | 23,821 | 32,157 | ||||
| Water Tap Fees Recognized [Member] | ||||||||
| Revenues: | ||||||||
| Total revenues | 1,034,284 | 0 | 1,756,186 | 49,948 | ||||
| Land Development [Member] | ||||||||
| Revenues: | ||||||||
| Total revenues | 2,708,093 | 0 | 6,035,670 | 0 | ||||
| Other [Member] | ||||||||
| Revenues: | ||||||||
| Total revenues | $ 37,941 | $ 37,874 | $ 148,159 | $ 95,893 | ||||
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| X | ||||||||||
- Definition Costs incurred related to construction of land development. No definition available.
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| X | ||||||||||
- Definition Amount of other costs incurred and are directly related to services rendered by an entity during the reporting period. No definition available.
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- Definition Cost incurred related to wastewater service operations. No definition available.
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| X | ||||||||||
- Definition Cost incurred related to water service operations. No definition available.
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for allocation of cost of tangible and intangible assets over their useful lives, and reduction in quantity of natural resource due to consumption directly used in production of good and rendering of service. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Income earned by providing the use of assets to an outside party in exchange for a payment or series of payments that is nonoperating in nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Ancillary revenue earned during the period from the consideration paid to the entity for the use of its rights and property by another party. Examples include licensing the use of copyrighted materials and leasing the extraction of natural resources. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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