Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Revenues:    
Total revenues $ 28,747 $ 14,586
Cost of revenues:    
Depletion and depreciation 1,504 1,658
Other 882 491
Total cost of revenues 8,988 6,546
General and administrative expenses 6,921 5,470
Depreciation 596 498
Operating income 12,242 2,072
Other income (expense):    
Interest income - Investments 1,108 1,023
Oil and gas royalty income, net 795 267
Oil and gas lease income, net 69 75
Interest expense, net (439) (206)
Income from operations before income taxes 15,632 6,220
Income tax expense (4,019) (1,521)
Net income $ 11,613 $ 4,699
Earnings per common share - basic and diluted    
Basic (in dollars per share) $ 0.48 $ 0.20
Diluted (in dollars per share) $ 0.48 $ 0.19
Weighted average common shares outstanding:    
Weighted average common shares outstanding, Basic (in shares) 24,083,001 24,031,068
Weighted average common shares outstanding, Diluted (in shares) 24,140,946 24,106,067
Related Party    
Other income (expense):    
Other, net $ 1,729 $ 1,481
Nonrelated Party    
Other income (expense):    
Other, net 128 1,508
Water service operations    
Cost of revenues:    
Expenses 2,204 1,757
Metered Water Usage - Municipal Customers    
Revenues:    
Total revenues 788 504
Metered Water Usage-Commercial Customers    
Revenues:    
Total revenues 6,095 3,059
Wastewater service operations    
Cost of revenues:    
Expenses 691 675
Wastewater treatment fees    
Revenues:    
Total revenues 343 302
Water and wastewater tap fees    
Revenues:    
Total revenues 3,384 2,991
Lot sales    
Revenues:    
Total revenues 15,998 6,815
Project management fees    
Revenues:    
Total revenues 707 283
Single-family rentals    
Revenues:    
Total revenues 481 165
Cost of revenues:    
Expenses 188 73
Special facility projects and other    
Revenues:    
Total revenues 951 467
Land development construction costs    
Cost of revenues:    
Expenses 3,037 1,606
Project management costs    
Cost of revenues:    
Expenses $ 482 $ 286