Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Revenues:    
Total revenues $ 23,003 $ 17,125
Expenses:    
Depletion and depreciation 1,740 1,457
Other 289 494
Total cost of revenues 6,629 6,402
General and administrative expenses 5,893 5,139
Depreciation 385 315
Operating income 10,096 5,269
Other income:    
Interest income - related party 1,937 2,955
Recognition of public improvement reimbursables - related party   17,262
Reimbursement of construction costs - related party   485
Oil and gas royalty income, net 498 324
Oil and gas lease income, net 171 196
Other, net 93 99
Interest expense, net (90)  
Income from operations before income taxes 12,705 26,590
Income tax expense 3,086 6,480
Net income $ 9,619 $ 20,110
Earnings per common share - basic and diluted    
Basic (in dollars per share) $ 0.40 $ 0.84
Diluted (in dollars per share) $ 0.40 $ 0.83
Weighted average common shares outstanding:    
Basic (in shares) 23,953,740 23,890,792
Diluted (in shares) 24,155,990 24,110,918
Water Service Operations [Member]    
Expenses:    
Expenses $ 1,910 $ 1,546
Metered Water Usage - Municipal Customers [Member]    
Revenues:    
Total revenues 440 339
Metered Water Usage-Commercial Customers [Member]    
Revenues:    
Total revenues 4,107 3,299
Wastewater Service Operations [Member]    
Expenses:    
Expenses 501 370
Wastewater Treatment Fees [Member]    
Revenues:    
Total revenues 248 199
Land Development Construction Costs [Member]    
Expenses:    
Expenses 1,990 2,535
Water and Wastewater Tap Fees [Member]    
Revenues:    
Total revenues 4,922 5,163
Lot Sales [Member]    
Revenues:    
Total revenues 12,187 5,840
Project Management Fees - Recognized [Member]    
Revenues:    
Total revenues 683 1,629
Single Family Rentals [Member]    
Revenues:    
Total revenues 82  
Expenses:    
Expenses 23  
Special Facility Projects and Other [Member]    
Revenues:    
Total revenues 334 $ 656
Project Management Costs [Member]    
Expenses:    
Expenses $ 176