Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
May 31, 2017
May 31, 2016
Cash flows from operating activities:    
Net loss $ (1,209,680) $ (790,510)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and depletion 405,167 307,834
Investment in Well Enhancement Recover Systems, LLC 7,652 8,004
Stock-based compensation expense 168,034 167,061
Interest income and other non-cash items (26,641) (37,299)
Interest added to receivable from related parties (18,316) (22,503)
Changes in operating assets and liabilities:    
Trade accounts receivable 119,452 248,731
Prepaid expenses (164,626) (145,826)
Notes receivable - related parties (86,818) (26,483)
Accounts payable and accrued liabilities (90,322) (486,170)
Income taxes 0 (292,729)
Deferred revenues (41,852) (41,852)
Deferred oil & gas lease payment (18,000) (354,765)
Net cash used in operating activities from continuing operations (955,950) (1,466,507)
Net cash provided by operating activities from discontinued operations 116,706 1,251,527
Net cash used in operating activities (839,244) (214,980)
Cash flows from investing activities:    
Sale (purchase) of short-term investments 8,366,614 (23,142,484)
Purchase of long-term investments 0 (7,026,424)
Investments in Sky Ranch pipeline (4,101,010) 0
Investments in Sky Ranch land development (378,600) 0
Investments in water, water systems, and land (1,918,153) (695,746)
Purchase of property and equipment (77,242) (441,768)
Net cash provided by (used in) investing activities from continuing operations 1,891,609 (31,306,422)
Net cash used in investing activities from discontinued operations 0 (451,347)
Net cash provided by (used in) investing activities 1,891,609 (31,757,769)
Cash flows from financing activities:    
Payments to contingent liability holders (2,102) (1,629)
Net cash used in financing activities from continuing operations (2,102) (1,629)
Net cash provided by financing activities from discontinued operations 0 0
Net cash used in financing activities (2,102) (1,629)
Net change in cash and cash equivalents 1,050,263 (31,974,378)
Cash and cash equivalents - beginning of period 4,697,288 37,089,041
Cash and cash equivalents - end of period 5,747,551 5,114,663
SUPPLEMENTAL DISCLSOURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Investment in Sky Ranch pipeline through accounts payable 210,889 0
Retirement of Collateral Stock $ 0 $ 1,407,000