Pure Cycle Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 8 - Shareholders' Equity (Tables)

Note 8 - Shareholders' Equity (Tables)

12 Months Ended

Aug. 31, 2012

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

		Number of Options				Weighted-Average Exercise Price				Weighted-Average Remaining Contractual Term				Approximate Aggregate Instrinsic Value
Oustanding at beginning of period			280,000			$	6.10
Granted			12,500			$	1.85
Exercised			-			$	–
Forfeited or expired			(77,500	)		$	6.03
Outstanding at August 31, 2012			215,000			$	5.88			$	4.98				*

Options exercisable at August 31, 2012			192,500			$	6.12			$	4.59				*

Schedule of Nonvested Share Activity [Table Text Block]

		Number of Options				Weighted-Average Grant Date Fair Value
Non-vested options oustanding at beginning of period			49,500			$	2.86
Granted			12,500				1.23
Vested			(22,500	)			3.11
Forfeited			(17,000	)			2.83
Non-vested options outstanding at August 31, 2012			22,500			$	1.72