Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v2.4.0.8
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Aug. 31, 2013
Fair Value Measurements Tables  
Schedule of fair value of assets and liabilities measured on a recurring basis
The following table provides information on the assets and liabilities measured at fair value as of August 31, 2013:
 
                Fair Value Measurement Using:        
               
Quoted Prices in
          
Significant
    
Total
  
               
Active Markets for
    
Significant Other
    
Unobservable
    
Unrealized
  
               
Identical Assets
    
Observable Inputs
    
Inputs
    
Gains and
  
   
Fair Value
  
Cost / Other Value
    
(Level 1)
    
(Level 2)
    
(Level 3)
    
(Losses)
  
Tap Participation Fee
   $ 59,807,289     $ 59,807,289     $ —     $ —     $ 59,807,289     $ —  
Schedule of unobservable input reconciliation of fair value liabilities measured on a recurring basis
Although not required, the Company deems the following table, which presents the changes in the Tap Participation Fee for the year ended August 31, 2013, to be helpful to the users of its financial statements:
 
   
Fair Value Measurement using Significant Unobservable
Inputs (Level 3)
  
               
Discount - to
  
         
Tap
    
be imputed as
  
   
Gross Estimated
    
Participation
    
interest
  
   
Tap Participation
    
Fee Reported
    
expense in
  
   
Fee Liability
    
Liability
    
future periods
  
Balance at August 31, 2012
   $ 112,958,000     $ 68,269,100     $ 44,688,900  
Total gains and losses (realized and unrealized):
                        
Imputed interest recorded as “Other Expense”
     —       3,275,400       (3,275,400 )
Purchases, sales, issuances, payments, and settlements
     (10,276,100 )     (11,737,200 )     1,461,100  
Transfers in and/or out of Level 3
     —       —       —  
Balance at August 31, 2013
   $ 102,681,900     $ 59,807,300     $ 42,874,600