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SEGMENT INFORMATION (Tables) | 9 Months Ended
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May 31, 2020
SEGMENT INFORMATION [Abstract] |
Segment Information | The following table summarizes wholesale water and wastewater services and land development revenue information by segment:
|  |  | Three Months Ended |  |  | Nine Months Ended |
|  |  | May 31, 2020 |  | May 31, 2019 |  |  | May 31, 2020 |  |  | May 31, 2019 |
Wholesale water and wastewater services |  | $ | 1,153,951 |  |  | $ | 2,476,570 |  |  | $ | 4,326,207 |  |  | $ | 4,851,961 |
Land development activities |  |  | 696,170 |  |  |  | 2,708,093 |  |  |  | 11,503,523 |  |  |  | 6,035,670 |
Total revenues |  | $ | 1,850,121 |  |  | $ | 5,184,663 |  |  | $ | 15,829,730 |  |  | $ | 10,887,631 |
The following table summarizes wholesale water and wastewater services and land development pretax income by segment:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | May 31, 2020 |  |  | May 31, 2019 |  |  | May 31, 2020 |  |  | May 31, 2019 |
Wholesale water and wastewater services |  | $ | 603,158 |  |  | $ | 1,802,340 |  |  | $ | 2,621,356 |  |  | $ | 3,222,922 |
Land development activities |  |  | 140,390 |  |  |  | 120,021 |  |  |  | 7,342,810 |  |  |  | 319,676 |
Corporate |  |  | (707,273 | ) |  |  | (660,990 | ) |  |  | (1,925,548 | ) |  |  | (1,743,280 | )
Total pretax income (loss) |  | $ | 36,275 |  |  | $ | 1,261,371 |  |  | $ | 8,038,618 |  |  | $ | 1,799,318 |
The following table summarizes total assets by segment. The assets consist of water rights and water and wastewater systems in the Company’s wholesale water and wastewater services segment. The assets consist of land, land development inventories and deposits in the Company’s land development segment. The Company’s other assets primarily consist of cash and cash equivalents, equipment, mineral rights, related party notes receivables and a deferred tax asset.
|  | May 31, 2020 |  |  | August 31, 2019 |
Wholesale water and wastewater services |  | $ | 56,244,054 |  |  | $ | 51,588,079 |
Land development activities |  |  | 9,498,852 |  |  |  | 16,866,542 |
Corporate |  |  | 22,466,167 |  |  |  | 15,266,783 |
Total assets |  | $ | 88,209,073 |  |  | $ | 83,721,404 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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