Annual report pursuant to Section 13 and 15(d)

PARTICIPATING INTERESTS IN EXPORT WATER (Tables)

v3.19.3
PARTICIPATING INTERESTS IN EXPORT WATER (Tables)
12 Months Ended
Aug. 31, 2019
PARTICIPATING INTERESTS IN EXPORT WATER [Abstract]  
Remaining Third Party Obligation
The Company is currently allocated approximately 88% of the total proceeds from the sale of Export Water after payment of the Land Board royalty.  Additionally, as a result of the acquisitions, and the consideration from the cumulative sales of Export Water, as detailed in the table below, the remaining potential third-party obligation at August 31, 2019, is approximately $1 million:

   
Export
Water
Proceeds
Received
   
Initial
Export
Water
Proceeds to
Pure Cycle
   
Total
Potential
Third-party
Obligation
   
Participating
Interests
Liability
   
Contingency
 
Original balances
 
$
   
$
218,500
   
$
31,807,700
   
$
11,090,600
   
$
20,717,100
 
Activity from inception until August 31, 2016:
                                       
Acquisitions
   
     
28,042,500
     
(28,042,500
)
   
(9,790,000
)
   
(18,252,500
)
Relinquishment
   
     
2,386,400
     
(2,386,400
)
   
(832,100
)
   
(1,554,300
)
Option payments - Sky Ranch  and The Hills at Sky Ranch
   
110,400
     
(42,300
)
   
(68,100
)
   
(23,800
)
   
(44,300
)
Arapahoe County tap fees
   
533,000
     
(373,100
)
   
(159,900
)
   
(55,800
)
   
(104,100
)
Export Water sale payments
   
676,500
     
(540,300
)
   
(136,200
)
   
(47,300
)
   
(88,900
)
Balance at August 31, 2017
   
1,319,900
     
29,691,700
     
1,014,600
     
341,600
     
673,000
 
Fiscal 2018 activity:
   
60,800
     
(53,600
)
   
(7,200
)
   
(2,500
)
   
(4,700
)
Balance at August 31, 2018
   
1,380,700
     
29,638,100
     
1,007,400
     
339,100
     
668,300
 
Fiscal 2019 activity:
                                       
Export Water sale payments
   
166,300
     
(146,500
)
   
(19,800
)
   
(6,900
)
   
(12,900
)
Balance at August 31, 2019
 
$
1,547,000
   
$
29,491,600
   
$
987,600
   
$
332,200
   
$
655,400