Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Segment Information

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Note 10 - Segment Information
 3 Months Ended
Nov. 30, 2012
Segment Reporting Disclosure [Text Block]
NOTE 10- SEGMENT INFORMATION

The Company operates primarily in two lines of business: (i) the wholesale water and wastewater business; and (ii) agricultural farming business.  The Company provides wholesale water and wastewater services to customers using water rights owned by the Company, developing 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 Valley land and water to area farmers under cash leases or in certain cases crop share leases. Revenues from one customer of the wholesale water and waste water business represent approximately 86% of revenues from this segment. The Company's agricultural segment does not have any significant customer. The following table shows information by operating segment for the three months ended November 30, 2012:

   
Business segments
             
   
Wholesale
water and
wastewater
   
Agricultural
   
All Other
   
Total
 
                         
Revenues
  $ 57,400     $ 362,700     $ 18,300     $ 438,400  
Gross profit
    4,900       343,700       18,300       366,900  
Depletion and depreciation
    77,600       -       -       77,600  
Other significant noncash items:
                               
Stock-based compensation
    -       -       10,633       10,633  
TPF interest expense
    894,600       -       -       894,600  
Segment assets
    96,195,400       3,586,900       11,091,300       110,873,600  
Expenditures for segment assets
    108,200       -       -       108,200  

** -  The Company did not segment report in fiscal 2011.

As of November 30, 2011 the Company had only one operating Segment.