Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Nov. 30, 2015
Nov. 30, 2014
Cash flows from operating activities:    
Net (loss) income $ (97,541) $ 10,308
Adjustments to reconcile net loss to net cash used in operating activities:    
Imputed interest on Tap Participation Fee payable to HP A&M   23,816
Depreciation and depletion 94,571 78,865
Investment in Well Enhancement Recover Systems, LLC 2,663 (3,871)
Stock-based compensation expense 53,690 68,825
Interest income and other non-cash items (105) (104)
Interest added to receivable from Rangeview Metropolitan District (3,226) (3,002)
Changes in operating assets and liabilities:    
Trade accounts receivable (157,508) 680,986
Sky Ranch Receivable 0 (1,500)
Prepaid expenses 91,388 52,732
Receivable from HP A&M 0 (44,880)
Note receivable - related party: Rangeview Metropolitian District 0 (25,000)
Accounts payable and accrued liabilities (447,964) (1,001,656)
Income taxes (292,729) 0
Interest accrued on agriculture land promissory notes 0 (20,058)
Deferred revenues 57,730 68,141
Deferred oil & gas lease (161,430) (161,430)
Net cash (used in) provided by operating activities (860,461) (277,828)
Cash flows from investing activities:    
Investments in water, water systems, and land (25,168) (1,154,253)
Purchase of farm land (443,620) 0
Purchase of property and equipment (248,866) 0
Proceeds from sale of farm land 0 699,826
Net cash (used in) provided by investing activities (717,654) (454,427)
Cash flows from financing activities:    
Payments to contingent liability holders (492) (6,409)
Proceeds from borrowings on promissory notes payable 0 2,311,656
Payments made on promissory notes payable 0 (1,395,009)
Net cash provided by (used in) financing activities (492) 910,238
Net change in cash and cash equivalents (1,578,607) 177,983
Cash and cash equivalents - beginning of period 37,089,041 1,749,558
Cash and cash equivalents - end of period 35,510,434 1,927,541
SUPPLEMENTAL DISCLSOURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Retirement of Collateral Stock 1,407,000 0
Reduction in Tap Participation Fee liability resulting from remedies under the Arkansas River Agreement $ 0 $ 6,227,266