Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.3.1.900
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Nov. 30, 2015
Aug. 31, 2015
Current assets:    
Cash and cash equivalents $ 35,510,434 $ 37,089,041
Trade accounts receivable 865,346 707,838
Sky Ranch receivable 148,415 148,415
Escrow receivable 1,342,250 1,342,250
Land held for sale 443,620 0
Prepaid expenses 202,007 293,395
Total current assets 38,512,072 39,580,939
Investments in water and water systems, net 27,647,876 27,708,595
Land and mineral interests 5,092,247 5,091,668
Note receivable - related party:    
Rangeview Metropolitan District, including accrued interest 594,449 591,223
Other assets 325,533 88,488
Total assets 72,172,177 73,060,913
Current liabilities:    
Accounts payable 146,740 198,338
Accrued liabilities 194,167 590,533
Income taxes 0 292,729
Deferred revenues 128,381 56,700
Deferred oil and gas lease payment 205,335 360,765
Total current liabilities 674,623 1,499,065
Deferred revenues, less current portion 1,097,342 1,111,293
Deferred oil and gas lease payment, less current portion 13,000 19,000
Participating Interests in Export Water Supply 345,515 346,007
Total liabilities 2,130,480 2,975,365
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:    
Common stock: Par value 1/3 of $.01 per share, 40 million shares authorized; 23,754,098 and 24,054,098, respectively, shares outstanding 79,185 80,185
Collateral stock 0 (1,407,000)
Additional paid-in capital 171,032,045 172,384,355
Accumulated deficit (101,069,966) (100,972,425)
Total shareholders' equity 70,041,697 70,085,548
Total liabilities and shareholders' equity $ 72,172,177 $ 73,060,913