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Note 7 - Significant Customer
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3 Months Ended |
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Nov. 30, 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 – Water
Assets to the 2012 Annual Report). Sales
to the District accounted for 64% and 71% of the
Company’s total revenues for the three months ended
November 30, 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 65% and 68% of the Company’s
total water and wastewater revenues for the three months
ended November 30, 2012 and 2011, respectively.
The
Company had accounts receivable from the District which
accounted for 20% and 16% of the Company’s trade
receivables balances at November 30, 2012 and August 31,
2012, respectively. Accounts receivable from the
District’s largest customer accounted for 3% and 13%
of the Company’s trade receivables as of November 30,
2012 and August 31, 2012, respectively.
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