Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v2.4.0.8
SEGMENT INFORMATION
 9 Months Ended
May 31, 2014
Segment Information  
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, 2014 and 2013:

  

Three Months Ended May 31, 2014  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 335,800     $ 328,800     $ 13,900     $ 678,500  
 Gross profit     184,700       305,800       13,900       504,400  
 Depreciation     7,200       -       -       7,200  
 Other significant noncash items:                                
           Stock-based compensation     -       -       68,800       68,800  
            TPF interest expense     248,800       -       -       248,800  
 Segment assets        96,813,900       6,571,000       3,272,700       106,657,600  
 Expenditures for segment assets               399,000       -       -       399,000  
                                 

  

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  
 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, 2014  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
 Revenues   $ 1,095,400     $ 855,700     $ 41,900     $ 1,993,000  
 Gross profit     620,800       791,300       41,900       1,454,000  
 Depreciation     30,100       -       -       30,100  
 Other significant noncash items:                                
           Stock-based compensation     -       -       183,100       183,100  
            TPF interest expense     1,309,100       -       -       1,309,100  
 Segment assets     96,813,900       6,571,000       3,272,700       106,657,600  
 Expenditures for segment assets                918,100       -       -       918,100  

 

 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  
 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