Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
May 31, 2013
May 31, 2012
Cash flows from operating activities:    
Net loss $ (3,044,878) $ (4,145,260)
Adjustments to reconcile net loss to net cash used for operating activities:    
Imputed interest on Tap Participation Fee payable to HP A&M 2,416,619 2,586,780
Depreciation, depletion and other non-cash items 231,822 230,370
Interest accrued on agriculture land promissory notes 67,383   
Stock-based compensation expense 42,252 42,257
Interest income and other non-cash items 1,763 3,085
Interest added to receivable from Rangeview Metropolitan District (9,004) (9,037)
Interest added to construction proceeds receivable    (14,786)
Changes in operating assets and liabilities:    
Trade accounts receivable (136,033) 44,381
Prepaid expenses 16,794 (20,541)
HP A&M Receivable (462,730)   
Sky Ranch #5 Receivable (57,123)   
Accounts payable and accrued liabilities (116,004) 41,045
Deferred revenues 33,527 (41,852)
Deferred income- oil & gas lease (310,860) (310,860)
Net cash used in operating activities (1,326,472) (1,594,418)
Cash flows from investing activities:    
Sales and maturities of marketable securities 1,101,367 3,022,466
Purchase of marketable securities    (1,234,967)
Investments in water, water systems, and land (298,772) (68,855)
Purchase of property and equipment (34,000) (3,894)
Proceeds from sale of collateral stock 3,415,000   
Net cash provided by investing activities 4,183,595 1,714,750
Cash flows from financing activities:    
Arapahoe County construction proceeds 291,662 54,798
Payments to contingent liability holders (16,535) (3,520)
Payments made on promissory notes payable (1,686,340)   
Net cash (used in) provided by financing activities (1,411,213) 51,278
Net change in cash and cash equivalents 1,445,910 171,610
Cash and cash equivalents - beginning of period 1,623,517 71,795
Cash and cash equivalents - end of period $ 3,069,427 $ 243,405