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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended
--- | ---
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2012
Revenues: |  |  |
Metered water usage | $ 1,879,495 | $ 502,668 | $ 182,802
Wastewater treatment fees | 45,400 | 41,697 | 45,778
Special facility funding recognized | 41,508 | 41,508 | 41,508
Water tap fees recognized | 14,294 | 14,294 | 14,296
Farm operations | 1,068,026 | 1,241,882 |
Other income | 42,417 | 15,413 |
Total revenues | 3,091,140 | 1,857,462 | 284,384
Expenses: |  |  |
Water service operations | (547,562) | (188,309) | (78,144)
Wastewater service operations | (38,426) | (16,958) | (19,269)
Farm operations | (88,105) | (96,337) |
Other | (39,421) | (1,199) | (1,995)
Depletion and depreciation | (149,757) | (90,468) | (88,576)
Total cost of revenues | (863,271) | (393,271) | (187,984)
Gross margin | 2,227,869 | 1,464,191 | 96,400
General and administrative expenses | (3,356,863) | (2,333,126) | (2,374,106)
Impairment of land and water rights held for sale | (402,657) |  | (6,457,760)
Impairment of water assets |  |  | (5,544,022)
Depreciation | (46,807) | (220,834) | (220,657)
Operating loss | (1,578,458) | (1,089,769) | (14,500,145)
Other income (expense): |  |  |
Oil and gas lease income, net | 525,438 | 416,048 | 422,999
Farm income, net |  |  | 71,101
Interest income | 26,858 | 34,583 | 53,339
Interest expense | (239,200) | (245,503) |
Other | 160,004 | 9,574 | 3,552
Gain on sale of land and water assets | 1,407,326 |  | 1,016
Gain on extinguishment of contingent obligations and debt | 832,097 |  |
Interest imputed on the Tap Participation Fees payable to HP A&M | (1,445,509) | (3,275,378) | (3,470,523)
Net loss | $ (311,444) | $ (4,150,445) | $ (17,418,661)
Net loss per common share - basic and diluted | $ (0.01) | $ (0.17) | $ (0.72)
Weighted average common shares outstanding - basic and diluted | 24,037,598 | 24,037,598 | 24,037,598

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