SIGNIFICANT CUSTOMERS |
12 Months Ended |
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Aug. 31, 2018 | |
| SIGNIFICANT CUSTOMERS [Abstract] | |
| SIGNIFICANT CUSTOMERS |
NOTE 9 – SIGNIFICANT CUSTOMERS
Water and Wastewater
Pursuant to the Rangeview Water Agreements and an Export Service Agreement entered into with the Rangeview District dated June 16, 2017, the Company provides water and wastewater services on the Rangeview District’s behalf to the Rangeview District’s customers. Sales to the Rangeview District accounted for 6%, 25% and 67% of the Company’s total water and wastewater revenues for the fiscal years ended August 31, 2018, 2017 and 2016, respectively. The Rangeview District had one significant customer, the Ridgeview Youth Services Center. The Rangeview District’s significant customer accounted for 4%, 21%, and 55% of the Company’s total water and wastewater revenues for the fiscal years ended August 31, 2018, 2017 and 2016, respectively.
Revenues from one other customer directly and indirectly represented approximately 68% of the Company’s water and wastewater revenues for the fiscal year ended August 31, 2018. Revenues from two other customers directly and indirectly represented approximately 55%, and 1% of the Company’s water and wastewater revenues for the fiscal years ended August 31, 2017 and 2016, respectively. Of the two customers, one customer represented 25% and nil of the Company’s water and wastewater revenues for the fiscal years ended August 31, 2017, and 2016, respectively, and the other customer represented 30% and 1% of the Company’s water and wastewater revenues for the fiscal years ended August 31, 2017, and 2016, respectively.
Land Development
Revenues from two customers represented 98% of the Company’s land development revenues for the fiscal year ended August 31, 2018. Of the two customers, one customer represented 66% and the second customer represented 32% of the Company’s land development revenues for the fiscal years ended August 31, 2018. No revenues were recognized from the Company’s land development activities for the fiscal year ended August 31, 2017 or 2016.
The Company had accounts receivable from the Rangeview District which accounted for 3% and 50% of the Company’s trade receivables balances at August 31, 2018 and 2017, respectively. The Company had accounts receivable from two other customers of approximately 43% and 30% at August 31, 2018, respectively. The Company had accounts receivable from one other customer of approximately 46% at August 31, 2017. Accounts receivable from the Rangeview District’s largest customer accounted for 2% and 19% of the Company’s water and wastewater trade receivables as of August 31, 2018 and 2017, respectively.
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