Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
3 Months Ended
Nov. 30, 2018
Nov. 30, 2017
Revenues:    
Total revenues $ 3,072,549 $ 1,010,132
Expenses:    
Water service operations (335,164) (351,816)
Wastewater service operations (2,722) (5,987)
Lot fee construction costs (1,298,324) 0
Other (39,133) (16,451)
Depletion and depreciation (151,261) (120,599)
Total cost of revenues (1,826,604) (494,853)
Gross profit 1,245,945 515,279
General and administrative expenses (638,833) (660,983)
Depreciation (88,013) (54,386)
Operating income (loss) 519,099 (200,090)
Other income (expense):    
Oil and gas lease income, net 13,933 9,289
Oil and gas royalty income, net 31,425 41,762
Interest income 71,162 54,462
Other (1,647) (2,034)
Income (loss) from operations before income taxes 633,972 (96,611)
Income tax expense (benefit) 0 0
Net income (loss) 633,972 (96,611)
Unrealized holding gains 11,796 19,622
Total comprehensive income (loss) $ 645,768 $ (76,989)
Basic net income (loss) per common share (in dollars per share) $ 0.03 [1]
Diluted net income per common share (in dollars per share) $ 0.03 [1]
Weighted average common shares outstanding-basic (in shares) 23,772,431 23,754,098
Weighted average common shares outstanding-diluted (in shares) 23,996,393 23,754,098
Metered Water Usage [Member]    
Revenues:    
Total revenues $ 1,367,851 $ 922,573
Wastewater Treatment Fees [Member]    
Revenues:    
Total revenues 8,893 11,189
Special Facility Funding Recognized [Member]    
Revenues:    
Total revenues 0 0
Water Tap Fees Recognized [Member]    
Revenues:    
Total revenues 254,826 49,948
Lot Sales [Member]    
Revenues:    
Total revenues 1,381,196 0
Other [Member]    
Revenues:    
Total revenues $ 59,783 $ 26,422
[1] Amount is less than $.01 per share