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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) | 12 Months Ended
--- | ---
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013
Revenues: |  |  |
Metered water usage | $ 969,989 | $ 1,879,495 | $ 502,668
Wastewater treatment fees | 50,076 | 45,400 | 41,697
Special facility funding recognized | 41,508 | 41,508 | 41,508
Water tap fees recognized | 14,294 | 14,294 | 14,294
Farm operations | 1,127,155 | 1,068,026 | 1,241,882
Other income | 120,702 | 42,417 | 15,413
Total revenues | 2,323,724 | 3,091,140 | 1,857,462
Expenses: |  |  |
Water service operations | (464,940) | (547,562) | (188,309)
Wastewater service operations | (66,745) | (38,426) | (16,958)
Farm operations | (126,279) | (88,105) | (96,337)
Other | (55,173) | (39,421) | (1,199)
Depletion and depreciation | (172,546) | (149,757) | (90,468)
Total cost of revenues | (885,683) | (863,271) | (393,271)
Gross margin | 1,438,041 | 2,227,869 | 1,464,191
General and administrative expenses | (2,699,587) | (3,356,863) | (2,333,126)
Impairment of land and water rights held for sale | 0 | (402,657) | 0
Depreciation | (174,717) | (46,807) | (220,834)
Operating loss | (1,436,263) | (1,578,458) | (1,089,769)
Other income (expense): |  |  |
Oil and gas lease income, net | 645,720 | 525,438 | 416,048
Oil and gas royalty income, net | 412,627 | 0 | 0
Interest income | 43,044 | 26,858 | 34,583
Interest expense | (390,505) | (239,200) | (245,503)
Other | 22,120 | 160,004 | 9,574
Gain on sale of land and water assets | (22,108,145) | 1,407,326 | 0
Gain on extinguishment of contingent obligations and debt | 0 | 832,097 | 0
Interest imputed on the Tap Participation Fees payable to HP A&M | (23,816) | (1,445,509) | (3,275,378)
Net loss before taxes | (22,835,218) | (311,444) | (4,150,445)
Taxes | (292,700) | 0 | 0
Net loss | $ (23,127,947) | $ (311,444) | $ (4,150,445)
Net loss per common share - basic and diluted | $ (0.96) | $ (0.01) | $ (0.17)
Weighted average common shares outstanding - basic and diluted | 24,041,114 | 24,037,598 | 24,037,598

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