NOTE 9 – SIGNIFICANT CUSTOMERS

The Company relies on its homebuilder customers for providing most of its land development revenue, and it relies on the Sky Ranch development (which includes both the Sky Ranch CAB and individual homeowners at Sky Ranch) as well as oil and gas operators for its water and wastewater resource revenue. The Company primarily provides water and wastewater services on behalf of Rangeview Metropolitan District but since it is provided to various end users, the Rangeview Metropolitan District itself is not considered a significant customer.

​

For the year ended August 31, 2021, recognized lot sales and water and wastewater tap sales to three homebuilders accounted for 53% of the Company’s total revenue, comprised of 20% to KB Home, 17% to Taylor Morrison and 16% to Richmond. The Sky Ranch CAB and Sky Ranch homeowners combined accounted for 14% of the Company’s revenues, which includes water and wastewater usage fees and project management fees.  For the year ended August 31, 2020, recognized lot sales and water and wastewater tap sales to three homebuilders accounted for 94% of the Company’s total revenue, comprised of 27% to KB Home, 30% to Taylor Morrison and 37% to Richmond.