Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 30, 2022
Aug. 31, 2022
Current assets:    
Cash and cash equivalents $ 16,843 $ 34,894
Investments in U.S. Treasury Bills 15,113  
Trade accounts receivable, net 1,240 2,425
Prepaid expenses and other assets 314 467
Total current assets 33,510 37,786
Restricted cash 2,328 2,328
Investments in water and water systems, net 58,711 58,763
Construction in progress 2,484 1,224
Single-family rental units 963 975
Land and mineral rights:    
Held for development 7,287 6,773
Held for investment purposes 451 451
Other assets 2,454 2,463
Operating leases - right of use assets 120 138
Total assets 128,037 129,229
Current liabilities:    
Accounts payable 1,039 849
Accrued liabilities 920 2,029
Accrued liabilities - related parties 653 560
Income taxes payable 2,494 2,530
Deferred lot sale revenues 3,889 4,275
Deferred water sales revenues 552 570
Debt, current portion 10 10
Total current liabilities 9,557 10,823
Participating interests in export water supply   323
Debt, less current portion 3,947 3,950
Deferred tax liability, net 1,241 1,075
Lease obligations - operating leases, less current portion 44 62
Total liabilities 14,789 16,233
Commitments and contingencies
SHAREHOLDERS' EQUITY:    
Series B preferred shares par value $0.001 per share, 25 million authorized; 432,513 issued and outstanding (liquidation preference of $432,513)
Common shares: par value 1/3 of $.01 per share, 40.0 million authorized; 23,986,645 and 23,980,645 outstanding, respectively 80 80
Additional paid-in capital 174,243 174,150
Accumulated deficit (61,075) (61,234)
Total shareholders' equity 113,248 112,996
Total liabilities and shareholders' equity 128,037 129,229
Reimbursable public improvements [Member]    
Current assets:    
Notes receivable - related parties, including accrued interest: 18,487 17,208
Other [Member]    
Current assets:    
Notes receivable - related parties, including accrued interest: $ 1,242 $ 1,120