Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING (Tables)

v3.22.2.2
SEGMENT REPORTING (Tables)
12 Months Ended
Aug. 31, 2022
SEGMENT REPORTING [Abstract]  
Segment Reporting

The tables below present the measure of profit and assets the CODM uses to assess the performance of the segment for the periods presented:

Year Ended August 31, 2022

(In thousands)

    

Water and wastewater resource development

    

Land development

Single-family rental

    

    Total

Total revenue

    

$

10,051

    

$

12,870

$

82

    

$

23,003

Cost of revenue

 

2,700

 

2,166

 

23

 

4,889

Depreciation and depletion

 

1,740

 

 

 

1,740

Total cost of revenue

 

4,440

 

2,166

 

23

 

6,629

Segment profit

$

5,611

$

10,704

$

59

$

16,374

Year Ended August 31, 2021

(In thousands)

    

Water and wastewater resource development

    

Land development

Single-family rental

    

    Total

Total revenue

$

9,656

$

7,469

$

$

17,125

Cost of revenue

 

2,410

 

2,535

 

 

4,945

Depreciation and depletion

 

1,457

 

 

 

1,457

Total cost of revenue

 

3,867

 

2,535

 

 

6,402

Segment profit

$

5,789

$

4,934

$

$

10,723

The following table summarizes the Company’s total assets by segment. The assets consist of water rights and water and wastewater systems in the Company’s water and wastewater resource development segment; land, land development costs and deposits in the Company’s land development segment; and the cost of the homes in the single-family rental line. The Company’s other assets (“Corporate”) primarily consist of cash, cash equivalents, restricted cash, equipment, and related party notes receivables.

(In thousands)

    

August 31, 2022

    

August 31, 2021

Water and wastewater resource development

$

63,064

$

57,791

Land development

25,522

32,844

Single-family rental

1,715

Corporate

38,928

26,542

Total assets

$

129,229

$

117,177