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Note 7 - Significant Customer
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9 Months Ended |
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May 31, 2012
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| Concentration Risk Disclosure [Text Block] |
NOTE
7 – SIGNIFICANT CUSTOMER
The
Company sells wholesale water and wastewater services to the
District pursuant to the Rangeview Water Agreements (defined
in Note 4 to the 2011 Annual Report). Sales to the
District accounted for 91% and 93% of the Company’s
total water and wastewater revenues for the three months
ended May 31, 2012 and 2011, respectively. Sales
to the District accounted for 91% and 92% of the
Company’s total water and wastewater revenues for the
nine months ended May 31, 2012 and 2011,
respectively. The District had one significant
customer, the Ridgeview Youth Services
Center. Pursuant to the Rangeview Water Agreements
the Company is providing water and wastewater services to
this customer on behalf of the District. The
District’s significant customer accounted for 78% of
the Company’s total water and wastewater revenues for
the three months ended both May 31, 2012 and
2011. The District’s significant customer
accounted for 74% and 82% of the Company’s total water
and wastewater revenues for the nine months ended May 31,
2012 and 2011, respectively.
The
Company had accounts receivable from the District which
accounted for 94% and 87% of the Company’s trade
receivables balances at May 31, 2012 and August 31, 2011,
respectively. Accounts receivable from the
District’s largest customer accounted for 62% and 74%
of the Company’s trade receivables as of May 31, 2012
and August 31, 2011, respectively.
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