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SEGMENT INFORMATION | 9 Months Ended
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May 31, 2014
Segment Information |
SEGMENT INFORMATION | The Company operates primarily in two lines of business: (i) the wholesale water and wastewater business; and (ii) the agricultural farming business. The Company provides wholesale water and wastewater services to customers using water rights owned by the Company and develops infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater. The Company’s agricultural business consists of the Company leasing its Arkansas River Valley land and water to area farmers under cash leases or in certain cases crop share leases. The following tables show information by operating segment for the three and nine months ended May 31, 2014 and 2013:
Three Months Ended May 31, 2014 |
|  | Business segments |  |  |  |  |  |  |
|  | Wholesale |  |  |  |  |  |  |  |  |  |
|  | water and |  |  |  |  |  |  |  |  |  |
|  | wastewater |  |  | Agricultural |  |  | All Other |  |  | Total |
Revenues |  | $ | 335,800 |  |  | $ | 328,800 |  |  | $ | 13,900 |  |  | $ | 678,500 |
Gross profit |  |  | 184,700 |  |  |  | 305,800 |  |  |  | 13,900 |  |  |  | 504,400 |
Depreciation |  |  | 7,200 |  |  |  | - |  |  |  | - |  |  |  | 7,200 |
Other significant noncash items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation |  |  | - |  |  |  | - |  |  |  | 68,800 |  |  |  | 68,800 |
TPF interest expense |  |  | 248,800 |  |  |  | - |  |  |  | - |  |  |  | 248,800 |
Segment assets |  |  | 96,813,900 |  |  |  | 6,571,000 |  |  |  | 3,272,700 |  |  |  | 106,657,600 |
Expenditures for segment assets |  |  | 399,000 |  |  |  | - |  |  |  | - |  |  |  | 399,000 |
Three Months Ended May 31, 2013 |
|  | Business segments |  |  |  |  |  |  |
|  | Wholesale |  |  |  |  |  |  |  |  |  |
|  | water and |  |  |  |  |  |  |  |  |  |
|  | wastewater |  |  | Agricultural |  |  | All Other |  |  | Total |
Revenues |  | $ | 99,700 |  |  | $ | 296,100 |  |  | $ | 17,600 |  |  | $ | 413,400 |
Gross profit |  |  | 13,100 |  |  |  | 268,200 |  |  |  | 17,600 |  |  |  | 298,900 |
Depreciation |  |  | 55,500 |  |  |  | - |  |  |  | - |  |  |  | 55,500 |
Other significant noncash items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation |  |  | - |  |  |  | - |  |  |  | 19,200 |  |  |  | 19,200 |
TPF interest expense |  |  | 871,900 |  |  |  | - |  |  |  | - |  |  |  | 871,900 |
Segment assets |  |  | 93,329,600 |  |  |  | 6,610,300 |  |  |  | 9,028,400 |  |  |  | 108,968,300 |
Expenditures for segment assets |  |  | 178,500 |  |  |  | - |  |  |  | - |  |  |  | 178,500 |
Nine Months Ended May 31, 2014 |
|  | Business segments |  |  |  |  |  |  |
|  | Wholesale |  |  |  |  |  |  |  |  |  |
|  | water and |  |  |  |  |  |  |  |  |  |
|  | wastewater |  |  | Agricultural |  |  | All Other |  |  | Total |
Revenues |  | $ | 1,095,400 |  |  | $ | 855,700 |  |  | $ | 41,900 |  |  | $ | 1,993,000 |
Gross profit |  |  | 620,800 |  |  |  | 791,300 |  |  |  | 41,900 |  |  |  | 1,454,000 |
Depreciation |  |  | 30,100 |  |  |  | - |  |  |  | - |  |  |  | 30,100 |
Other significant noncash items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation |  |  | - |  |  |  | - |  |  |  | 183,100 |  |  |  | 183,100 |
TPF interest expense |  |  | 1,309,100 |  |  |  | - |  |  |  | - |  |  |  | 1,309,100 |
Segment assets |  |  | 96,813,900 |  |  |  | 6,571,000 |  |  |  | 3,272,700 |  |  |  | 106,657,600 |
Expenditures for segment assets |  |  | 918,100 |  |  |  | - |  |  |  | - |  |  |  | 918,100 |
Nine Months Ended May 31, 2013 |
|  | Business segments |  |  |  |  |  |  |
|  | Wholesale |  |  |  |  |  |  |  |  |  |
|  | water and |  |  |  |  |  |  |  |  |  |
|  | wastewater |  |  | Agricultural |  |  | All Other |  |  | Total |
Revenues |  | $ | 272,000 |  |  | $ | 963,900 |  |  | $ | 50,500 |  |  | $ | 1,286,400 |
Gross profit |  |  | 34,100 |  |  |  | 890,000 |  |  |  | 50,500 |  |  |  | 974,600 |
Depreciation |  |  | 165,300 |  |  |  | - |  |  |  | - |  |  |  | 165,300 |
Other significant noncash items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation |  |  | - |  |  |  | - |  |  |  | 42,300 |  |  |  | 42,300 |
TPF interest expense |  |  | 2,416,600 |  |  |  | - |  |  |  | - |  |  |  | 2,416,600 |
Segment assets |  |  | 93,329,600 |  |  |  | 6,610,300 |  |  |  | 9,028,400 |  |  |  | 108,968,300 |
Expenditures for segment assets |  |  | 298,800 |  |  |  | - |  |  |  | - |  |  |  | 298,800 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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