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PRESENTATION OF INTERIM INFORMATION (Tables)
 3 Months Ended
Nov. 30, 2018
PRESENTATION OF INTERIM INFORMATION [Abstract]  
Changes in Contract Asset and Deferred Revenue
The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.

Contract asset by segment is as follows:

  
November 30, 2018
  
August 31, 2018
 
Wholesale water and wastewater services
 
$
—
  
$
—
 
Land development activities
  
1,020,146
   
—
 
Corporate
  
—
   
—
 
Balance, end of period
 $
1,020,146
  $
—
 

Changes in contract asset were as follows:

  
November 30, 2018
  
August 31, 2018
 
Balance, beginning of period
 
$
—
  
$
—
 
Recognition of revenue contract asset
  
1,020,146
   
—
 
Contract asset invoiced
  
—
   
—
 
Balance, end of period
 $
1,020,146
  $
—
 

Deferred revenue by segment is as follows:

  
November 30, 2018
  
August 31, 2018
 
Wholesale water and wastewater services
 
$
—
  
$
—
 
Land development activities
  
—
   
361,050
 
Oil and gas leases
  
102,177
   
116,111
 
Balance, end of period
  
102,177
   
477,161
 
Oil and gas leases, less current portion
  
(55,733
)
  
(55,733
)
Oil and gas leases, Long term
  
46,444
   
60,378
 
Total oil and gas leases
 
$
102,177
  
$
116,111
 

Changes in deferred revenue were as follows:

  
November 30, 2018
  
August 31, 2018
 
Balance, beginning of period
 
$
477,161
  
$
1,055,488
 
Cumulative effect of adoption of ASU 2014-09
  
—
   
(1,055,488
)
Deferral of revenue
  
—
   
2,667,200
 
Recognition of unearned revenue
  
(374,984
)
  
(2,190,039
)
Balance, end of period
 $
102,177
  $
477,161