XML 53 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)
 6 Months Ended
Feb. 28, 2014
Long-Term Obligations And Operating Lease Tables  
Schedule of remaining third party obligation

As a result of the acquisitions, and due to the sale of Export Water, as detailed in the table below, the remaining potential third party obligation at February 28, 2014, is $3.4 million:

 

   Export Water Proceeds Received   Initial Export Water Proceeds to Pure Cycle   Total Potential Third party Obligation   Paticipating Interests Liability   Contingency 
Original balances  $—   $218,500   $31,807,700   $11,090,600   $20,717,100 
Activity from inception until August 31, 2013:                            
Acquisitions   —    28,077,500    (28,077,500)   (9,790,000)   (18,287,500)
Option payments - Sky Ranch and The Hills at Sky Ranch   110,400    (42,300)   (68,100)   (23,800)   (44,300)
Arapahoe County tap fees *   533,000    (373,100)   (159,900)   (55,800)   (104,100)
Export Water sale payments   269,300    (188,500)   (80,800)   (28,100)   (52,700)
Balance at August 31, 2013   912,700    27,692,100    3,421,400    1,192,900    2,228,500 
Fiscal 2014 activity:                         
Export Water sale payments   43,000    (30,100)   (12,900)   (4,500)   (8,400)
Balance at February 28, 2014  $955,700   $27,662,000   $3,408,500   $1,188,400   $2,220,100 

 

* The Arapahoe County tap fees are less $34,522 in royalties paid to the Land Board.