Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
 9 Months Ended
May 31, 2013
Segment Information  
Segment Information
NOTE 10 – SEGMENT INFORMATION

The Company operates primarily in two lines of business: (i) the wholesale water and wastewater business; and (ii) the agricultural farming business. The Company provides wholesale water and wastewater services to customers using water rights owned by the Company and develops 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 River Valley land and water to area farmers under cash leases or in certain cases crop share leases. The following tables show information by operating segment for the three and nine months ended May 31, 2013:
 
Three months ended May 31, 2013
 
   
Business segments
              
   
Wholesale
                    
   
water and
                    
   
wastewater
  
Agricultural
    
All Other
    
Total
  
Revenues
   $ 99,700     $ 296,100     $ 17,600     $ 413,400  
Gross profit
     13,100       268,200       17,600       298,900  
Depletion and depreciation
     55,500       —       —       55,500  
Other significant noncash items:
                                
Stock-based compensation
     —       —       19,200       19,200  
TPF interest expense
     871,900       —       —       871,900  
Segment assets
     93,329,600       6,610,300       9,028,400       108,968,300  
Expenditures for segment assets
     178,500       —       —       178,500  
  
Nine months ended May 31, 2013
 
   
Business segments
              
   
Wholesale
                    
   
water and
                    
   
wastewater
    
Agricultural
    
All Other
    
Total
  
                         
 Revenues
   $ 272,000     $ 963,900     $ 50,500     $ 1,286,400  
 Gross profit
     34,100       890,000       50,500       974,600  
 Depletion and depreciation
     165,300       —       —       165,300  
 Other significant noncash items:
                                
Stock-based compensation
     —       —       42,300       42,300  
TPF interest expense
     2,416,600       —       —       2,416,600  
 Segment assets
     93,329,600       6,610,300       9,028,400       108,968,300  
 Expenditures for segment assets
     298,800       —       —       298,800  

As of May 31, 2012, the Company had only one operating segment.