Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
May 31, 2023
May 31, 2022
Cash flows from operating activities:    
Net income $ 3,643 $ 4,044
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and depletion 1,594 1,332
Other assets and liabilities 922 (57)
Share-based compensation expense 559 491
Prepaid expenses 75 (311)
Deferred income taxes (202) (187)
Trade accounts receivable (246) 333
Land under development (249) (44)
Amortized discount on U.S. Treasury Bills (256)  
Deferred water sales revenue (557) (18)
Accounts payable and accrued liabilities (788) (2,136)
Deferred lot sale revenues (800) (1,106)
Taxes payable / receivable (2,720) (3,849)
Net cash used by operating activities (2,970) (11,933)
Cash flows from investing activities:    
Maturity of held-to-maturity investments in U.S. Treasury Bills 15,256  
Purchase of property and equipment (275)  
Investments in future development phases at Sky Ranch (937) (2,417)
Investments in water and water systems (1,374) (1,235)
Construction costs of single-family rentals (3,471) (142)
Purchase of held-to-maturity investments in U.S. Treasury Bills (15,000)  
Net cash used by investing activities (5,801) (3,794)
Cash flows from financing activities:    
Payments on notes payable (8)  
Payments to contingent liability holders (111) (1)
Proceeds from option exercises   34
Proceeds from notes payable   1,000
Net cash (used) provided by financing activities (119) 1,033
Net change in cash, cash equivalents and restricted cash (8,890) (14,694)
Cash, cash equivalents and restricted cash - beginning of period 37,222 22,444
Cash, cash equivalents and restricted cash - end of period 28,332 7,750
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 26,000 5,422
Restricted cash 2,332 2,328
Total cash, cash equivalents and restricted cash 28,332 7,750
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 4,265 5,260
Cash paid for interest 142  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Change in reimbursable public improvements included in accounts payable and accrued liabilities 569 445
Issuance of stock for compensation 111  
Related Party [Member] | Sky Ranch CAB [Member]    
Adjustments to reconcile net income to net cash used by operating activities:    
Net activity on note receivable - related party, reimbursable public improvements, other (3,668) (10,526)
Related Party [Member] | Rangeview District [Member]    
Adjustments to reconcile net income to net cash used by operating activities:    
Net activity on note receivable - related party, reimbursable public improvements, other $ (277) $ 101