Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Fair Value Measurements (Tables)

Note 2 - Fair Value Measurements (Tables)

6 Months Ended

Feb. 28, 2013

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

					Fair Value Measurement Using
	Fair Value		Cost / Other Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Unrealized Gain
Marketable securities	$	62,056	$	62,000	$	-	$	62,056	$	-	$	56
Tap Participation Fee liability	$	69,814,000	$	69,814,000	$	-	$	-	$	69,814,000	$	-

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Fair Value Measurement using Significant Unobservable Inputs (Level 3)
	Gross Estimated Tap Participation Fee Liability		Tap Participation Fee Reported Liability		Discount - to be imputed as interest expense in future periods
Balance at August 31, 2012	$	112,958,000	$	68,269,200	$	44,688,800
Total gains and losses (realized and unrealized):		-		-		-
Imputed interest recorded as "Other Expense"		-		1,544,800		(1,544,800	)
Transfers in and/or out of Level 3		-		-		-
Balance at February 28, 2013	$	112,958,000	$	69,814,000	$	43,144,000

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References + Details