| Schedule of remaining third party obligation |
As
a result of the acquisitions, and due to the sale of Export Water, as detailed in the table below, the remaining potential third
party obligation at August 31, 2014, is approximately $1 million:
| |
|
Export
Water Proceeds Received |
|
|
Initial
Export Water Proceeds to Pure Cycle |
|
|
Total
Potential Third party Obligation |
|
|
Paticipating
Interests Liability |
|
|
Contingency |
|
| Original
balances |
|
$ |
|
|
|
$ |
218,500 |
|
|
$ |
31,807,700 |
|
|
$ |
11,090,600 |
|
|
$ |
20,717,100 |
|
| Activity
from inception until August 31, 2012: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisitions |
|
|
|
|
|
|
28,077,500 |
|
|
|
(28,077,500 |
) |
|
|
(9,790,000 |
) |
|
|
(18,287,500 |
) |
| 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 |
|
|
111,300 |
|
|
|
(77,900 |
) |
|
|
(33,400 |
) |
|
|
(12,100 |
) |
|
|
(21,300 |
) |
| Balance at August
31, 2012 |
|
|
754,700 |
|
|
|
27,802,700 |
|
|
|
3,468,800 |
|
|
|
1,208,900 |
|
|
|
2,259,900 |
|
| Fiscal 2013 activity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Export
Water sale payments |
|
|
158,000 |
|
|
|
(110,600 |
) |
|
|
(47,400 |
) |
|
|
(16,000 |
) |
|
|
(31,400 |
) |
| Balance at August
31, 2013 |
|
|
912,700 |
|
|
|
27,692,100 |
|
|
|
3,421,400 |
|
|
|
1,192,900 |
|
|
|
2,228,500 |
|
| Fiscal 2014 activity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Export
Water sale payments |
|
|
91,600 |
|
|
|
(73,700 |
) |
|
|
(17,900 |
) |
|
|
(6,200 |
) |
|
|
(11,700 |
) |
| Relinquishment |
|
|
|
|
|
|
2,386,400 |
|
|
|
(2,386,400 |
) |
|
|
(832,100 |
) |
|
|
(1,554,300 |
) |
| Balance
at August 31, 2014 |
|
$ |
1,004,300 |
|
|
$ |
30,004,800 |
|
|
$ |
1,017,100 |
|
|
$ |
354,600 |
|
|
$ |
662,500 |
|
|