Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Revenues:        
Revenues $ 4,664 $ 4,739 $ 8,936 $ 9,607
Expenses:        
Depletion and depreciation 352 354 706 719
Other 141 363 219 387
Total cost of revenues 1,507 1,263 2,891 4,008
General and administrative expenses 1,552 1,342 2,876 2,428
Depreciation 97 76 182 160
Operating income 1,508 2,058 2,987 3,011
Other income:        
Interest income - related party 525 1,448 888 1,463
Recognition of public improvement reimbursables - related party   18,894   18,894
Reimbursement of construction costs - related party   485   485
Oil and gas royalty income, net 110 76 207 151
Oil and gas lease income, net 48 48 96 100
Other, net 14 10 25 20
Interest expense, net (11)   (18)  
Income from operations before income taxes 2,194 23,019 4,185 24,124
Income tax expense 501 5,667 978 5,927
Net income $ 1,693 $ 17,352 $ 3,207 $ 18,197
Earnings per common share - basic and diluted        
Basic (in dollars per share) $ 0.07 $ 0.73 $ 0.13 $ 0.76
Diluted (in dollars per share) $ 0.07 $ 0.72 $ 0.13 $ 0.76
Weighted average common shares outstanding:        
Basic (in shares) 23,944,141 23,881,655 23,931,307 23,874,198
Diluted (in shares) 24,184,161 24,092,349 24,194,579 24,064,414
Water Service Operations [Member]        
Expenses:        
Expenses $ 570 $ 213 $ 859 $ 758
Metered Water Usage - Municipal Customers [Member]        
Revenues:        
Revenues 83 74 404 241
Metered Water Usage-Commercial Customers [Member]        
Revenues:        
Revenues 1,527 583 1,913 1,782
Wastewater Service Operations [Member]        
Expenses:        
Expenses 99 64 228 156
Wastewater Treatment Fees [Member]        
Revenues:        
Revenues 64 51 119 93
Land Development Construction Costs [Member]        
Expenses:        
Expenses 295 269 826 1,988
Water and Wastewater Tap Fees [Member]        
Revenues:        
Revenues 913 1,583 1,174 2,666
Lot Sales [Member]        
Revenues:        
Revenues 1,629 515 4,574 2,871
Project Management Fees - Recognized [Member]        
Revenues:        
Revenues 200 1,548 448 1,548
Single Family Rentals [Member]        
Revenues:        
Revenues 26   34  
Expenses:        
Expenses 4   7  
Special Facility Projects and Other [Member]        
Revenues:        
Revenues 222 $ 385 270 $ 406
Project Management Costs [Member]        
Expenses:        
Expenses $ 46   $ 46