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v2.4.0.8

Consolidated Statements of Operations (USD $) | 12 Months Ended
--- | ---
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011
Revenues: |  |  |
Metered water usage | $ 502,668 | $ 182,802 | $ 157,497
Wastewater treatment fees | 41,697 | 45,778 | 68,833
Special facility funding recognized | 41,508 | 41,508 | 41,508
Water tap fees recognized | 14,294 | 14,296 | 14,296
Farm operations | 1,241,882 |  |
Other | 15,413 |  |
Total revenues | 1,857,462 | 284,384 | 282,134
Expenses: |  |  |
Water service operations | (188,309) | (78,144) | (51,882)
Wastewater service operations | (16,958) | (19,269) | (19,224)
Farm operations | (96,337) |  |
Other | (1,199) | (1,995) |
Depletion and depreciation | (90,468) | (88,576) | (88,587)
Total cost of revenues | (393,271) | (187,984) | (159,693)
Gross margin | 1,464,191 | 96,400 | 122,441
General and administrative expenses | (2,333,126) | (2,374,106) | (2,212,026)
Impairment of land and water rights held for sale |  | (6,457,760) |
Impairment of water assets |  | (5,544,022) |
Depreciation | (220,834) | (220,657) | (212,184)
Operating loss | (1,089,769) | (14,500,145) | (2,301,769)
Other income (expense): |  |  |
Oil and gas lease income, net | 416,048 | 422,999 | 199,257
Farm income, net |  | 71,101 |
Interest income | 34,583 | 53,339 | 53,133
Interest expense | (245,503) |  |
Other | 9,574 | 3,552 | 31,887
Gain on sale of assets |  | 1,016 |
Interest expensed on Convertible Note - Related Party |  |  | (151,667)
Interest imputed on the Tap Participation Fee payable to HP A&M | (3,275,378) | (3,470,523) | (3,847,000)
Net loss | $ (4,150,445) | $ (17,418,661) | $ (6,016,159)
Net loss per common share - basic and diluted (in Dollars per share) | $ (0.17) | $ (0.72) | $ (0.26)
Weighted average common shares outstanding - basic and diluted (in Shares) | 24,037,596 | 24,037,596 | 23,168,450

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