Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Cash flows from operating activities:    
Net income $ 4,699 $ 9,619
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and depletion 2,156 2,125
Trade accounts receivable 1,333 (893)
Accounts payable and accrued liabilities 1,262 (2,362)
Other assets and liabilities 874 (83)
Share-based compensation expense 539 603
Deferred income taxes 277 (540)
Prepaid expenses 121 (59)
Amortized discount on U.S. Treasury Bills (256)  
Deferred water sales revenue (501) 160
Land under development (2,564) 608
Deferred lot sale revenues (2,614) 2,280
Taxes payable / receivable (3,081) (1,633)
Net cash (used) provided by operating activities (2,339) 17,454
Cash flows from investing activities:    
Maturity of held-to-maturity investments in U.S. Treasury Bills 15,256  
Purchase of property and equipment (394) (157)
Investments in future development phases at Sky Ranch (1,686) (849)
Construction costs of single-family rentals (3,480) (143)
Investments in water and water systems (3,937) (5,519)
Purchase of held-to-maturity investments in U.S. Treasury Bills (15,000)  
Net cash used by investing activities (9,241) (6,668)
Cash flows from financing activities:    
Proceeds from notes payable 3,000 4,000
Proceeds from option exercises   34
Payments on notes payable (44) (40)
Payments to contingent liability holders (111) (2)
Net cash provided by financing activities 2,845 3,992
Net change in cash, cash equivalents and restricted cash (8,735) 14,778
Cash, cash equivalents and restricted cash - beginning of period 37,222 22,444
Cash, cash equivalents and restricted cash - end of period 28,487 37,222
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 26,012 34,894
Restricted cash 2,475 2,328
Total cash, cash equivalents and restricted cash 28,487 37,222
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for income taxes 947 5,260
Cash paid for interest 142 55
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Change in reimbursable public improvements included in accounts payable and accrued liabilities 727 536
Issuance of stock for compensation 111 159
Change in investments in water and water systems included in accounts payable and accrued liabilities 808 157
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 (4,253) 7,586
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 $ (331) $ 43