Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
 3 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Cash flows from operating activities:    
Net loss $ (1,333,590) $ (1,361,735)
Adjustments to reconcile net loss to net cash used for operating activities:    
Imputed interest on Tap Participation Fee payable to HP A&M 894,648 851,400
Depreciation, depletion and other non-cash items 77,795 77,256
Interest accrued on agriculture land promissory notes 29,296  
Stock-based compensation expense 10,633 18,769
Interest added to receivable from Rangeview Metropolitan District (2,999) (3,001)
Interest added to construction proceeds receivable (4,213) (5,161)
Changes in operating assets and liabilities:    
Trade accounts receivable (176,723) 25,857
Interest receivable and prepaid expenses 40,977 84,455
Accounts payable and accrued liabilities 135,797 (2,841)
Deferred revenues 105,112 (13,953)
Deferred income- oil & gas lease (103,620) (103,620)
Net cash used by operating activities (326,887) (432,574)
Cash flows from investing activities:    
Investments in water, water systems, and land (108,205) (38,975)
Sales and maturities of marketable securities 182,931 1,164,511
Purchase of property and equipment   (3,894)
Proceeds from sale of collateral stock 3,525,000  
Net cash provided by investing activities 3,599,726 1,121,642
Cash flows from financing activities:    
Arapahoe County construction proceeds 20,549 13,699
Payments to contingent liability holders (813) (2,113)
Payments made on promissory notes payable (491,786)  
Net cash (used in) provided by financing activities (472,050) 11,586
Net change in cash and cash equivalents 2,800,789 700,654
Cash and cash equivalents – beginning of period 1,623,517 71,795
Cash and cash equivalents – end of period $ 4,424,306 $ 772,449