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7. SIGNIFICANT CUSTOMERS | 3 Months Ended
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Nov. 30, 2017
Significant Customers |
SIGNIFICANT CUSTOMERS | Pursuant to the Rangeview Water Agreements (defined in Note 4 – Water and Land Assets in Part II, Item 8 of the 2017 Annual Report) and an Export Service Agreement entered into with the Rangeview District dated June 16, 2017, the Company provides water and wastewater services on the Rangeview District’s behalf to the Rangeview District’s customers. Sales to the Rangeview District accounted for 6% and 39% of the Company’s total water and wastewater revenues for the three months ended November 30, 2017 and 2016, respectively. The Rangeview District has one significant customer, the Ridgeview Youth Services Center. Rangeview’s significant customer accounted for 4% and 31% of the Company’s total water and wastewater revenues for the three months ended November 30, 2017 and 2016, respectively. Revenues related to the provision of water for the oil and gas industry to one customer accounted for 54% of the Company’s water and wastewater revenues for the three months ended November 30, 2017. Revenues related to the provision of water for the oil and gas industry to one customer accounted for 52% of the Company’s water and wastewater revenues for the three months ended November 30, 2016. The Company had accounts receivable from the Rangeview District which accounted for 14% and 50% of the Company’s trade receivables balances at November 30, 2017 and August 31, 2017, respectively. Of the trade receivables from the Rangeview District, approximately 35% is related to water tap sales and 65% is related to water and wastewater service sales. The Company had accounts receivable from two other customers of approximately 85% at November 30, 2017. The Company had accounts receivable from one other customer of approximately 46% at August 31, 2017. Accounts receivable from the Rangeview District’s largest customer accounted for 8% and 19% of the Company’s water and wastewater trade receivables as of November 30, 2017 and August 31, 2017, respectively.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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