Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING

v2.4.0.8
SEGMENT REPORTING
 12 Months Ended
Aug. 31, 2013
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE 13 – SEGMENT REPORTING

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 fiscal year ended August 31, 2013:
 
 Fiscal Year Ended August 31, 2013
  
                         
   
Business segments
              
   
Wholesale
                    
   
water and
                    
   
wastewater
    
Agricultural
    
All Other
    
Total
  
                         
 Revenues
   $ 544,400     $ 1,241,900     $ 71,200     $ 1,857,500  
 Gross profit
     248,600       1,145,600       70,000       1,464,200  
 Depletion and depreciation
     311,300       —       —       311,300  
 Other significant noncash items:
                                
           Stock-based compensation
     —       —       66,800       66,800  
           TPF interest expense
     3,275,400       —       —       3,275,400  
 Segment assets
     93,522,800       6,697,500       8,398,000       108,618,300  
 Expenditures for segment assets
     —       —       —       —  

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