Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
May 31, 2024
May 31, 2023
May 31, 2024
May 31, 2023
Revenues:        
Total revenues $ 7,604 $ 6,879 $ 16,187 $ 11,218
Cost of revenues:        
Depletion and depreciation 410 407 1,132 1,246
Other 174 71 406 318
Total cost of revenues 2,738 2,206 6,202 4,942
General and administrative expenses 1,647 805 5,082 3,900
Depreciation 151 111 447 348
Operating income 3,068 3,757 4,456 2,028
Other income (expense):        
Interest income - Investments 279 281 873 727
Oil and gas royalty income, net 392 44 479 227
Oil and gas lease income, net 18 18 56 56
Interest expense, net (109) (52) (328) (149)
Income from operations before income taxes 3,852 4,419 6,813 4,987
Income tax expense (1,027) (1,124) (1,805) (1,344)
Net income $ 2,825 $ 3,295 $ 5,008 $ 3,643
Earnings per common share - basic and diluted        
Basic (in dollars per share) $ 0.12 $ 0.14 $ 0.21 $ 0.15
Diluted (in dollars per share) $ 0.12 $ 0.14 $ 0.21 $ 0.15
Weighted average common shares outstanding:        
Weighted average common shares outstanding, Basic (in shares) 24,087,170 24,054,843 24,085,578 24,021,582
Weighted average common shares outstanding, Diluted (in shares) 24,143,039 24,166,344 24,146,361 24,131,621
Related Party        
Other income (expense):        
Other, net $ 217 $ 331 $ 1,156 $ 841
Nonrelated Party [Member]        
Other income (expense):        
Other, net (13) 40 121 1,257
Water Service Operations [Member]        
Cost of revenues:        
Expenses 564 576 1,628 1,457
Metered Water Usage - Municipal Customers [Member]        
Revenues:        
Total revenues 145 145 458 349
Metered Water Usage-Commercial Customers [Member]        
Revenues:        
Total revenues 1,432 2,145 5,045 2,596
Wastewater Service Operations [Member]        
Cost of revenues:        
Expenses 173 96 513 350
Wastewater Treatment Fees [Member]        
Revenues:        
Total revenues 85 75 258 216
Land Development Construction Costs [Member]        
Cost of revenues:        
Expenses 1,192 951 1,961 1,291
Water and Wastewater Tap Fees        
Revenues:        
Total revenues 581 1,256 1,162 2,400
Lot Sales        
Revenues:        
Total revenues 4,795 3,160 7,906 5,064
Project Management Fees - Recognized        
Revenues:        
Total revenues 221 42 362 173
Single Family Rentals [Member]        
Revenues:        
Total revenues 123 34 357 90
Cost of revenues:        
Expenses 71 24 161 53
Special Facility Projects and Other [Member]        
Revenues:        
Total revenues 222 22 639 330
Project Management Costs [Member]        
Cost of revenues:        
Expenses $ 154 $ 81 $ 401 $ 227