Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Cash flows from operating activities:    
Net income $ 9,619 $ 20,110
Adjustments to reconcile net income to net cash used by operating activities:    
Deferred lot sale revenues 2,280 (1,199)
Depreciation and depletion 2,125 1,772
Land under development 608 (522)
Share-based compensation expense 603 497
Deferred water sales revenue 160  
Prepaid expenses (59) 63
Other assets and liabilities (83) (36)
Deferred income taxes (540) 729
Trade accounts receivable (893) (414)
Accounts payable and accrued liabilities (2,362) 1,547
Taxes payable (1,633) 5,750
Activity for note receivable - related party, reimbursable public improvements:    
Payments received 23,736 400
Net other activity (16,150) (25,194)
Activity for note receivable - related party, other    
Payments received 487  
Net other activity (444) (47)
Net cash provided by operating activities 17,454 3,456
Cash flows from investing activities:    
Construction costs of single-family rentals (143)  
Purchase of property and equipment (157) (383)
Investments in future development phases at Sky Ranch (849)  
Investments in water and water systems (5,519) (2,513)
Net cash used by investing activities (6,668) (2,896)
Cash flows from financing activities:    
Proceeds from notes payable 4,000  
Proceeds from option exercises 34 89
Payments to contingent liability holders (2) (2)
Payments on notes payable (40)  
Net cash provided by financing activities 3,992 87
Net change in cash, cash equivalents and restricted cash 14,778 647
Cash, cash equivalents and restricted cash - beginning of period 22,444 21,797
Cash, cash equivalents and restricted cash - end of period 37,222 22,444
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 34,894 20,117
Restricted cash 2,328 2,327
Total cash, cash equivalents and restricted cash 37,222 22,444
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 5,260  
Cash paid for interest 55  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Change in reimbursable public improvements included in accounts payable and accrued liabilities 536  
Issuance of stock for compensation 159 136
Change in investments in water and water systems included in accounts payable and accrued liabilities $ 157 3,277
Transfer of land development costs to other assets   733
Transfer of land development costs to land under development   244
Change in land under development included in accounts payable and accrued liabilities   19
Transfer of income taxes receivable to income taxes payable   $ 1,588