Quarterly report pursuant to Section 13 or 15(d)

1. PRESENTATION OF INTERIM INFORMATION (Details 1)

v3.7.0.1
1. PRESENTATION OF INTERIM INFORMATION (Details 1) - USD ($)
May 31, 2017
Aug. 31, 2016
Assets:    
Trade accounts receivable, net $ 110,700 $ 227,000
Land held for sale [1] 449,800 450,300
Prepaid expenses 0 2,900
Total assets 560,500 680,200
Liabilities:    
Accrued liabilities 8,600 4,400
Total liabilities $ 8,600 $ 4,400
[1] During the fiscal quarter ended November 30, 2015, the Company purchased three farms totaling 700 acres for approximately $453,200. The farms were acquired in order to correct dry-up covenant issues related to water only farms in order obtain the release of the escrow funds related to the Company's farm sale to Arkansas River Farms, LLC. The Company intends to sell the farms during fiscal year 2017.