Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Feb. 28, 2018
Aug. 31, 2017
Current assets:    
Cash and cash equivalents $ 3,087,823 $ 5,575,823
Short-term investments 17,132,401 20,055,345
Trade accounts receivable 909,527 663,762
Notes receivable - related parties, including accrued interest, current 0 215,504
Prepaid expenses and other current assets 1,594,982 503,100
Assets of discontinued operations, net 91,075 110,748
Total current assets 22,815,808 27,124,282
Long-term investments 1,427,663 187,975
Investments in water and water systems, net 34,907,176 34,575,713
Land and mineral interests 7,353,690 6,248,371
Notes receivable - related parties, including accrued interest 2,341,665 776,364
Other assets 568,128 424,226
Assets of discontinued operations held for sale 450,641 450,641
Total assets 69,864,771 69,787,572
Current liabilities:    
Accounts payable 459,221 492,410
Accrued liabilities 85,059 380,852
Deferred revenues 0 55,800
Deferred oil and gas lease payment 55,733 0
Liabilities of discontinued operations 8,582 11,165
Total current liabilities 608,595 940,227
Deferred revenues, less current portion 0 999,688
Deferred oil and gas lease payment, less current portion 88,244 0
Participating Interests in Export Water Supply 339,937 341,558
Total liabilities 1,036,776 2,281,473
Preferred stock:    
Series B - par value $.001 per share, 25 million shares authorized; 432,513 shares issued and outstanding (liquidation preference of $432,513) 433 433
Common stock:    
Par value 1/3 of $.01 per share, 40 million shares authorized; 23,764,098 and 23,754,098 shares outstanding, respectively 79,218 79,185
Additional paid-in capital 171,664,031 171,431,486
Accumulated other comprehensive income (loss) 19,613 (11,105)
Accumulated deficit (102,935,300) (103,993,900)
Total shareholders' equity 68,827,995 67,506,099
Total liabilities and shareholders' equity $ 69,864,771 $ 69,787,572