| Schedule of fair value of assets and liabilities measured on a recurring basis |
The following table provides information
on the assets and liabilities measured at fair value on a recurring basis as of February 28, 2014:
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Fair Value Measurement
Using |
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Cost / Other |
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Quoted Prices in Active Markets for Identical Assets |
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Significant Other Observable Inputs |
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Significant Unobservable Inputs |
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Total Unrealized |
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Fair Value |
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Value |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Gain |
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| Tap Participation Fee liability |
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$ |
24,632,100 |
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$ |
24,632,100 |
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$ |
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$ |
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$ |
24,632,100 |
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$ |
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| Schedule of unobservable input reconciliation of fair value liabilities measured on a recurring basis |
Although not required, the Company deems the following table,
which presents the changes in the TPF for the six months ended February 28, 2014, to be helpful to the users of its consolidated
financial statements:
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Fair Value Measurement using Significant
Unobservable Inputs (Level 3) |
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Gross Estimated Tap Participation Fee Liability |
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Tap Participation Fee Reported Liability |
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Discount - to be imputed as interest expense in
future periods |
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| Balance at August 31, 2013 |
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$ |
102,681,900 |
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$ |
59,807,300 |
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$ |
42,874,600 |
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| Total gains and losses (realized and unrealized): |
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| Imputed interest recorded as Other Expense |
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1,060,200 |
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(1,060,200 |
) |
| Purchases, sales, issuances, payments, and settlements |
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(63,233,700 |
) |
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(36,235,400 |
) |
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(26,998,300 |
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| Transfers in and/or out of Level 3 |
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| Balance at February 28, 2014 |
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$ |
39,448,200 |
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$ |
24,632,100 |
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$ |
14,816,100 |
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