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Note 7 - Significant Customer
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3 Months Ended |
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Nov. 30, 2011
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| Note 7 - Significant Customer Disclosure | |
| Note 7 - Significant Customer |
NOTE
7 - SIGNIFICANT CUSTOMER
The
Company sells wholesale water and wastewater services to the
District pursuant to the Rangeview Water Agreements (defined in
Note 4 to the 2011 Annual Report). Sales to the
District accounted for 71% and 74% of the Company’s total
revenues for the three months ended November 30, 2011 and 2010,
respectively. The District had one significant
customer, the Ridgeview Youth Services
Center. Pursuant to the Rangeview Water Agreements the
Company is providing water and wastewater services to this
customer on behalf of the District. The
District’s significant customer accounted for 68% and 71%
of the Company’s total revenues for the three months ended
November 30, 2011 and 2010, respectively.
The
Company had accounts receivable from the District which accounted
for 81% and 87% of the Company’s trade receivables balances
at November 30, 2011 and August 31, 2011,
respectively. Accounts receivable from the
District’s largest customer accounted for 73% and 74% of
the Company’s trade receivables as of November 30, 2011 and
August 31, 2011, respectively.
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